Amazon reports strong 1Q results driven by its cloud
Time:2024-05-21 21:17:33 Source:sportViews(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.
Previous:Celebrity birthdays for the week of May 26
Next:This Week: Home sales, Fed meeting minutes and consumer sentiment index
You may also like
- Mohammad Mokhber: Who is Iran’s acting president?
- Protests are planned in Serbia against a real estate project financed by Trump's son
- Jake Paul and Mike Tyson trade insults as they hype planned summer fight in Texas
- Timberwolves force Game 7 by blowing out Nuggets 115
- Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
- Moment twins, 8, hilariously fume after discovering two ice creams will cost them a staggering £9
- Taiwan is selling more to the US than China in major shift away from Beijing
- Revealed: Reservoir 'at heart of' Devon crisis that's left 40,000 homes with undrinkable water
- Padres second baseman Xander Bogaerts leaves game against Braves with shoulder injury