CNBC April 30, 2024
Key Points
– Amazon’s operating margin jumped past 10%, topping a prior high of 8.2% in 2021.
– The company is simultaneously cutting costs and generating revenue growth in higher-margin businesses.
– Revenue in Amazon Web Services and the advertising division topped estimates.
For most of its 27 years as a public company, Amazon investors have been asked to sacrifice profit for growth. That’s no longer necessary.
In its first-quarter earnings report on Tuesday, Amazon’s operating margin reached double digits for the first time on record. The company’s margin climbed to 10.7% in the period, up from 7.8% in the fourth quarter and topping a previous high of 8.2% in the first quarter of 2021.
While overall revenue growth has...
Today's Sponsors
Today's Sponsor