Amazon stocks surge on Q1 revenue, profit

📆 28/04/2023 02:03:00
📰 nationalpost

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Amazon.com Inc.\u0027s stock rose 9% in after\u002Dhours trading, despite a continuing slowdown in its cloud computing unit AWS. Find out more.

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The Seattle-based company said it pulled in US$127.4 billion in revenue for the January-March quarter, a nine per cent growth compared to the US$116.4 billion it reported during the same period last year. Analysts surveyed by FactSet had expected US$124.6 billion.Canada's best source for investing news, analysis, and insight on investment strategies, stocks and more.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

giant reported its first quarterly loss in years mainly driven by a loss in value of its investment in the electric vehicle company Rivian Automotive.The report on Thursday rounds out a busy earnings week for major tech companies. On Wednesday, Facebook parent Meta beat profit and revenue expectations, leading to a bounce in its stocks in after-hours trading.

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