Amazon reports strong 1Q results driven by its cloud
Time:2024-05-22 02:46:03 Source:worldViews(143)
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.
You may also like
- Six killed in a 'foiled coup' in Congo, the army says
- WAGS are back: Iris Law joins line
- A week in review of Donald Trump's hush money trial
- Alison Hammond explains why she charges son Aidan, 19, rent despite being a multi
- Liverpool confirms Arne Slot as Jurgen Klopp's replacement
- EastEnders SPOILER: Walford resident don fancy dress for Whitney and Zack's 'sten
- Michael Irvin 'out at NFL Network' as ex
- I didn't want Hugh Grant to be in Four Weddings and a Funeral, writer Richard Curtis admits
- This Week: Home sales, Fed meeting minutes and consumer sentiment index