Amazon.com Inc.’s first-quarter profit surged, beating analysts’ estimates and demonstrating that its focus on cloud computing, advertising and other high-margin businesses continues to pay off.
“They’ve kind of reaped the benefit of prior investment, but they caught up now,” Aaron Kessler, an analyst at Raymond James, said before the company’s results were posted. Amazon may have to increase investments again to spur future revenue growth, he said. AWS revenue jumped almost 42% from a year earlier to $7.7 billion. The unit’s operating income was $2.2 billion, or 50% of Amazon’s total.
Source: News Formal (newsformal.com)
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