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.
Garcia, Winker go deep as Nats end slide, beat struggling Twins 12
Khloe Kardashian shows off her curves in form
Family tree reveals Taylor Swift is a descendant of French King Louis XIV
At least 6 Egyptian women die after vehicle slides off ferry and plunges into Nile River
Senate races are roiled by campus protests over the war in Gaza as campaign rhetoric sharpens
Teyana Taylor looks fierce in towering platform boots while carrying a jeweled camera
Marijuana reclassification marks Biden's latest election
Rafael Devers sets team record by homering in 6th straight game as Red Sox top Rays 5
Sadie Sink flashes her bra in a sleek black co
Biden to release 1 million barrels of gasoline in bid to lower prices at pump
Arsenal keeps up Premier League title push with 3