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
Sale continues dominant run as Braves beat Padres 3
ATLANTA (AP) — Chris Sale allowed only five hits in seven innings to continue his strong run and the2024-05-22Trend of 'rise of the East and decline of the West' inevitable: economist
(ECNS)—The trend of China's economic growth remains unchanged, and the so-called China decline theor2024-05-22World's highest pumped storage power station begins construction
(ECNS) -- As a project of the Yalong wind and solar power base, the world's highest-altitude pumped-2024-05-22Messi explains absence in Hong Kong match for third time
(ECNS) -- Argentine football star Lionel Messi explained his absence during a match two weeks ago in2024-05-22It's no wonder parents are taking their children on holiday during term time! Sky
British families hoping to go on a foreign holiday during the May half-term next week face paying up2024-05-22Key Takeaways from Xi's State Visit to Vietnam
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-05-22
atest comment