opinions

Amazon reports strong 1Q results driven by its cloud

Font size+Author:Cosmic Coverage news portalSource:politics2024-05-21 19:53:04I 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
  • 'The Apprentice,' about a young Donald Trump, premieres in Cannes

    'The Apprentice,' about a young Donald Trump, premieres in Cannes

    2024-05-21 19:01

  • Trump loses bid to halt Jan. 6 lawsuits while he fights criminal charges in the 2020 election case

    Trump loses bid to halt Jan. 6 lawsuits while he fights criminal charges in the 2020 election case

    2024-05-21 18:30

  • Red Sox third baseman Rafael Devers has a bone bruise in his sore left knee

    Red Sox third baseman Rafael Devers has a bone bruise in his sore left knee

    2024-05-21 18:21

  • Jenna Bush Hager reveals her eight

    Jenna Bush Hager reveals her eight

    2024-05-21 18:01

Netizen comments