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:
Related suggestion:
Air travel surges thanks to Spring Festival and visa policiesSurgeon performs simulated breast cancer surgery on a balloonEU set to fine Apple $540 mln for unfair playCloned arctic wolf makes debut in NE China's HeilongjiangChinese tech giants strive to achieve carbon neutralityChina's nonAutomakers aiming to become shipshape as exports make wavesChina sees expansion in 5G network coverageEU set to fine Apple $540 mln for unfair playTencent's AI technology to find pulsars 'FASTER'
1.8847s , 6497.953125 kb
Copyright © 2024 Powered by Amazon reports strong 1Q results driven by its cloud ,Earth Examination news portal