Amazon shares rose as much as 3% in post-close trade Thursday April 29th, after the company released its first-quarter earnings, beating Wall Street’s earnings and revenue expectations.<\/p>\n\n\n\n
The company made profits of $15.79 per share, compared to expectations of $9.54 per share, and revenues of $108.52 billion compared to expectations of $104.47 billion.<\/p>\n\n\n\n
And few companies have benefited from the online shopping boom fueled by the pandemic, such as Amazon.<\/p>\n\n\n\n
The company’s first-quarter results showed continued support for the company’s business due to the epidemic, with revenues rising 44% year-on-year to $108.5 billion.<\/p>\n\n\n\n
And Amazon indicated that it expects momentum to continue in the second quarter, which should help assuage investor concerns that business may slow down in the post-pandemic environment.<\/p>\n\n\n\n
The company expects to generate revenues between $110 billion and $116 billion, beating Wall Street’s forecast of $108.6 billion.<\/p>\n\n\n\n
Outside of the company’s core retail segment, Amazon’s cloud computing and advertising business continues to thrive.<\/p>\n\n\n\n
Amazon Web Services saw net sales of $13.5 billion during the quarter, up 32% year-on-year<\/p>\n\n\n\n
The company does not disclose ad sales, but it is included in the “other” category of the company, which has seen its revenue grow 77% year-on-year to $ 6.9 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Amazon shares rose as much as 3% in post-close trade Thursday April 29th, after the company released its first-quarter earnings, beating Wall Street’s earnings and revenue expectations. The company made profits of $15.79 per share, compared to expectations of $9.54 per share, and revenues of $108.52 billion compared to expectations of $104.47 billion. And few …<\/p>\n","protected":false},"author":9,"featured_media":45157,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[6933,6862],"class_list":["post-45156","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-amazon","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/45156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=45156"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/45156\/revisions"}],"predecessor-version":[{"id":45158,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/45156\/revisions\/45158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/45157"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=45156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=45156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=45156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}