https://techcrunch.com/2022/02/07/from-movies-to-shipping-aws-is-driving-amazons-revenue-diversification/

When we think about Amazon, it’s usually about some aspect of its vast retail and logistics operation that allows customers to order just about anything and receive it relatively quickly. But with a market cap of $1.6 trillion, it’s actually a conglomerate of multibillion-dollar businesses. That diversification means it doesn’t have to rely on a single revenue stream, even one as large as its public cloud business. But at what point might it be too big?

Last week, the company reported quarterly revenue of almost $140 billion. Let’s start with its cloud business (AWS), which generated top line of $17 billion, up 40% year over year in Q4 2021. That result put AWS on a run rate of over $70 billion, up from the $51 billion pace on which it closed 2020.