Business Standard

Amazon's first-quarter revenue surges 43 percent


(Reuters) - Inc reported a 43 percent jump in first-quarter revenue on Thursday, driven by a surge in online shopping and higher demand for its cloud services.
Amazon, which reported it had over 100 million Prime subscribers last week, said its net sales rose to $51.04 billion from $35.7 billion, a year earlier.
Net income rose to $1.63 billion, or $3.27 per share, in the first quarter ended March 31 from $724 million, or $1.48 per share, a year earlier.
Revenue from Amazon Web Services (AWS), the company's fast-growing cloud services business, soared 48.6 percent to $5.44 billion, beating the average analyst estimate of $5.25 billion, according Thomson Reuters I/B/E/S.
(Reporting by Arjun Panchadar in Bengaluru; Editing by Bernard Orr)

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First Published: Apr 27 2018 | 1:40 AM IST

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