Amazon reported first-quarter earnings on Thursday that reflected an on-going change at the company: less growth but fatter profit margins.
Amazon's advertising business, which is looped under the"other" category, significantly slowed down, seeing only 34% revenue growth to $2.7 billion, after growing at least 60% in the past five quarters. Investors, however, are seeing more profitability from Amazon in exchange. Net income hit a record $3.6 billion, and its operating profit of $4.4 billion represented a record 7.4% margin.
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Amazon Key for Garage now availablePrime customers who want to get deliveries to their garage can now use Amazon.com Inc.'s Key for Garage, available today. Customers with myQ-connected technology can link their account with Amazon, or customers can purchase a Key Smart Garage Kit. With the addition of the Amazon Cloud Cam, users can see into their garage remotely. Key by Amazon delivery service is available in 50 U.S. cities. Amazon, which will announce earnings on Thursday, has seen its shares rally 25.7% for the year to date while the S&P 500 index is up 16% for the period.
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Source: MarketWatch - 🏆 3. / 97 Read more »