Amazon Web Services (AWS) Q4 revenue growth slowdown linked to sluggish cryptocurrency trading activity

According to The Block, Amazon's previously announced fourth-quarter financial report showed that Amazon Cloud (AWS) revenue increased by 20% in the fourth quarter, down from 27% in the third quarter. Amazon Chief Financial Officer Brian Olsavsky said on an earnings call that changes in cryptocurrency trading activity were partly to blame for AWS' slower fourth-quarter results. Generally speaking, during an economic downturn, businesses utilizing AWS are trying to "keep their bills down."

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