Amazon just reportedIt saw its lowest revenue growth for over 4 years, and it missed expectations. Investors found relief in other areas.

Because cloud computing, as well as advertising, are the two areas in which Amazon has the highest profits.

Amazon Web ServicesThe company, which offers remote computing, storage, and database services, saw a nearly 40% increase in revenue from last year to $17.8billion, surpassing the analyst estimate of $17.37billion. Amazon’s quarter operating profit of $5.29billion was more than 100 percent due to AWS.

Amazon surprised investors also breaking out advertisingAs a distinct business, for the first. Advertising revenue almost equaled $9.7 trillion, a jump of 32% Google’sAd growth rate for quarter. Amazon has so far grouped advertisements into “other” segments, leaving investors and analysts unsure about the size.

“The story for the fourth quarter is different from the second and third quarter to the extent that the high-margin businesses — cloud computing and advertising — were able to offset a slowdown in e-commerce,” said Tom Forte, an analyst at D.A. Davidson spoke to CNBC’s Thursday “” interview.Closing Bell.” Forte advises Amazon to buy.

The stock soared 14%Extended trading following the release saw a rally that was the strongest since 2012. If it holds through Friday,

Sales rose 9.4% to $137.4Billion in the fourth quarter compared with the same period last year, but fell short of analysts’ expectations for $137.6B. The fourth quarter saw Amazon experience a period of slowing growth, with sales jumping 43.6% in the last quarter.

Amazon’s online sales dropped 1%, to $66.1 billion. Amazon’s U.S. division suffered $206 Million in operating losses while its international business lost $1.63 Billion. Due to persistent labor market problems and supply chain challenges, the retail sector has had difficulty coping with these issues. Covid-19Consumer inflationary pressures due to the Omicron Variant

Amazon responded to the call by buying large quantities of Amazon products wage hikesIncreasing incentives for workers. The company also utilized its balance sheet in order to purchase space for ships during a high cost period of transporting cargo containers. It also paid for safety precautions to guard front-line workers from coronavirus.

Prior to the earnings report’s release, investors were bearish. Amazon was the worst-performing Big Tech stockLast year, it was 17% lower than 2022 at Thursday’s closing.

Aside from providing positive cloud and numbers on ad revenues, the company also stated that there are brighter days ahead for retail.

Amazon forecast first-quarter operating profits of $3 billion to $6 million, which suggests it hopes to reduce pandemic risk soon. Amazon seems poised to capitalize on the huge investments made in its warehouses, and its network of delivery partners for faster service.

Brian Olsavsky, Amazon’s CFO stated on the earnings conference that the company is better equipped to deal with labor-related issues.

Olsavsky declared, “We see the sun coming out”

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