Member LoginMember Login - User registration - Setup as front page - Add to favorites - Sitemap Amazon reports strong 1Q results driven by its cloud !

Amazon reports strong 1Q results driven by its cloud

Time:2024-05-22 09:39:12 source:Stellar Spotlight news portal

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 information
  • Haiti’s international airport reopens after gang violence
  • South China's Boao sees thriving homestay industry
  • Olympic champion Ye qualifies for Paris 2024
  • Agricultural collaboration yields rich dividends amid deepening ties
  • Hundreds of hostages, mostly women and children, are rescued from Boko Haram extremists in Nigeria
  • Willy Adames calls his shot, hits go
  • China, Indonesia to wrap up both Thomas & Uber Cup Finals
  • Gwyneth versus the Golden Arches! Paltrow mocked for homemade 'McMuffin' without a BUN
Recommended content
  • Yemen's Iran
  • Verdugo powers Yankees to 10
  • Alabama lawmakers approve tax breaks for businesses that help employees afford child care
  • Hong Kong, mainland self
  • Vikings seek new deal with Justin Jefferson; star WR absent so far from workouts, AP source says
  • Eflin allows 1 run in 7 innings as Rays beat White Sox 5