Amazon reports strong 1Q results driven by its cloud
NEW YORK (AP) — Amazon on Tuesday reported strong results for the first quarter, driven by growth in its cloud-computing unit and new advertising dollars from its Prime Video streaming service.
The Seattle-based e-commerce giant said it brought in $143.31 billion in revenue in the first three months of this year, a 13% jump compared to the same period last year. Net income came out to $10.43 billion, or 98 cents per share. That soundly beat Wall Street analysts’ expectations for 84 cents a share, according to FactSet.
“It was a good start to the year across the business, and you can see that in both our customer experience improvements and financial results,” Amazon CEO Andy Jassy said in a statement.
The nation’s biggest online retailer is coming off better-than-expected results for the holiday shopping period, when it saw strong consumer spending aided by discounts and faster shipping speeds. Amazon held another discount event in late March, right before the end of the first quarter.
Related articles
Patrick Reed withdraws from US Open qualifying and ends streak of playing the majors
DALLAS (AP) — Patrick Reed’s streak of playing every major since the 2014 Masters ended on Monday wh2024-05-22My friend turned up to my wedding as a surprise, took four pizzas and had sex with my sister
A groom who was left in an awkward situation on his big day due to a 'surprise' guest has taken to s2024-05-22I used ChatGPT to go on hundreds of Tinder dates
A man who used ChatGPT to go on hundreds of dates has found love and is engaged with a woman he met2024-05-22Ruapehu Alpine Lifts gets $7m bailout from government
Ruapehu Alpine Lifts has been given $7 million from the government. Photo: Supplied/ Ruapehu Alpine2024-05-22Nadal returns to Roland Garros to practice amid doubts over fitness and form
PARIS (AP) — Rafael Nadal returned to Roland Garros on Monday to practice and try and figure out whe2024-05-22
atest comment