sport

Amazon reports strong 1Q results driven by its cloud

Font size+Author:Culture Capsule news portalSource:business2024-05-21 17:28:56I want to comment(0)

NEW YORK (AP) — Amazon on Tuesday reported strong results for the first quarter, driven by growth in

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
  • Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire

    Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire

    2024-05-21 16:48

  • Taylor Swift's new single Fortnight breaks record for Spotify's most streamed song in a single day

    Taylor Swift's new single Fortnight breaks record for Spotify's most streamed song in a single day

    2024-05-21 16:09

  • Chapman cashes in on dropped catches to earn understrength New Zealand 7

    Chapman cashes in on dropped catches to earn understrength New Zealand 7

    2024-05-21 15:24

  • Pogačar beats Van der Poel in a dominant win at Liège–Bastogne–Liège classic

    Pogačar beats Van der Poel in a dominant win at Liège–Bastogne–Liège classic

    2024-05-21 14:52

Netizen comments