Amazon, the world's largest online retailer, has exceeded expectations with its latest quarterly results, indicating continued robust growth in both commerce and cloud services. For the first quarter of 2024, the company reported earnings of $0.98 per share, significantly exceeding market expectations of $0.843 per share. In the same period of the previous year, earnings were $0.310 per share.
Overall profit soared impressively to 10.4 billion dollars, compared with 3.2 billion dollars in the previous year's quarter. Revenue climbed by 13 percent to 143.3 billion dollars, which also exceeds analyst forecasts that had anticipated revenue of 142.63 billion dollars.
The Cloud Division AWS Demonstrates Particularly Strong Performance with a 17 Percent Increase in Revenue to 25 Billion Dollars. Amazon Plans to Further Expand Its Position in This Field, Particularly Due to Growing Demand for Computing Power for Artificial Intelligence Applications.
For the current quarter, Amazon forecasts revenue between $144 billion and $149 billion, which is slightly below analysts' expectations, who had anticipated about $150 billion.
The positive news led to a 1.26 percent increase in Amazon stock to $177.20 in after-hours trading on the NASDAQ. These results highlight Amazon's ongoing market strength and strategic focus, particularly in the area of technology and cloud services.
