Amazon profit more than triples, topping Wall Street expectations

CNBC April 30, 2024
Annie Palmer

Key Points

– Amazon shares rose in extended trading after the company reported better-than-expected revenue and earnings.

– Advertising revenue grew 24% in the first quarter, outpacing retail and cloud computing.

– Amazon Web Services also reported results that topped estimates.

Amazon reported better-than-expected earnings and revenue for the first quarter, driven by growth in advertising and cloud computing. The stock ticked higher in extended trading.

Here’s how the company did:

• Earnings per share: 98 cents vs. 83 cents expected by LSEG
• Revenue: $143.3 billion vs. $142.5 billion expected by LSEG

Wall Street is also looking at these key numbers:

• Amazon Web Services: $25 billion vs. $24.5 billion in revenue, according to StreetAccount
• Advertising: $11.8 billion vs....

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