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Re:AWS Drives More Than Half of Amazon's Operating Income by petra on Friday February 01, 2019 @07:21PM (#19060075)
Amazon retail has gross margins of 37% and net margin of, lets say 3.7%.

That means it cost it 63% to buy products(on credit like terms), and 33.3% to fullfil orders.

So from a risk terms we can say their margin is equivalent to 3.7/33.3 = about 10%. Which isn't bad.

Furthermore, a lot of those costs are variable costs, like shipping, which go down if demand drops.

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