00:00 It's Benzinga and here's what's on the block.
00:03 Amazon's operating margin neared a record high of 7.8% in the third quarter, up from
00:06 2% in the same period last year.
00:09 Jassy slashed around 27,000 jobs since last fall as part of an ongoing effort to trim
00:13 costs across the company.
00:15 The company is also regionalizing its shipping operations for faster yet cheaper deliveries.
00:20 Amazon's advertising business continues to be a key driver of profits, with revenue growing
00:24 26% to top $12 billion in the third quarter.
00:27 Jassy signaled more cost controls going forward through slower hiring, rehiring and spending
00:31 discipline in infrastructure and other non-labor areas.
00:34 For all things money, visit Benzinga.com.
00:36 Bye.
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