Amazon Posts Earnings Twice As Good As Wall Street Had Expected.
The ecommerce group posted earnings that were more than twice as good as Wall Street had expected. Growth is also accelerating in Amazon Web Services, its cloud computing business that now comprises almost three-quarters of the company’s operating income. In its outlook, Amazon said operating income might triple in the current quarter. Separately, couriers will soon be able to drop off packages inside customers’ cars, as part of the Amazon Key programme. (FT, WSJ)
“Amazon’s ad business hit about US$2 billion in revenues in the first quarter. Advertising is a strong contributor to profitability.In Q1 Amazon business category that consists primarily of ads generated $2.03 billion, up a whopping 139 percent from the same quarter a year earlier.” Brian Olsavsky, Amazon’s chief financial officer,