Amazon’s Q1 results easily coasted past financial analyst projections. On average, Wall Street expected revenue of $124.55 billion and earnings per share of 21 cents, according to Refinitiv data. Shares of Amazon climbed more than 11% in after-hours trading on the beat.
“There’s a lot to like about how our teams are delivering for customers, particularly amidst an uncertain economy,” CEO Andy Jassy said in announcing the results. “Our Advertising business continues to deliver robust growth, largely due to our ongoing machine learning investments that help customers see relevant information when they engage with us, which in turn delivers unusually strong results for brands.
Amazon’s ad segment had sales of $9.5 billion, an increase of 21% year over year, beating analyst expectations of 15% growth.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Microsoft said AI 50 times on its earnings call - Wall Street is thrilledMicrosoft mentioned artificial intelligence 50 times on its earnings call and Wall Street is thrilled
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: CNBC - 🏆 12. / 72 Read more »