entertainment

Amazon reports strong 1Q results driven by its cloud

Font size+Author:World Wander news portalSource:opinions2024-05-21 18:04:07I 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
  • Elon Musk gets approval from FDA to implant his Neuralink brain chip into a second patient

    Elon Musk gets approval from FDA to implant his Neuralink brain chip into a second patient

    2024-05-21 17:57

  • London restaurant transforms into Charlie and the Chocolate factory

    London restaurant transforms into Charlie and the Chocolate factory

    2024-05-21 17:38

  • Last month was officially the hottest March on RECORD with global temperatures 0.73°C above average

    Last month was officially the hottest March on RECORD with global temperatures 0.73°C above average

    2024-05-21 17:12

  • Hong Kong's leading bookstores decline to stock new book by last governor Chris Patten

    Hong Kong's leading bookstores decline to stock new book by last governor Chris Patten

    2024-05-21 16:37

Netizen comments