Amazon last week delivered record profits for the first quarter, fueled by gains in Cloud computing and new business segments for the US technology colossus.
Net profit in the quarter more than doubled from the same period last year to US$3.6bil (RM14.8bil), extending Amazon’s trend of rising profitability.
Overall revenues for the company rose 17% to US$59.7bil (RM246.8bil), according to the update, which topped most analyst forecasts. Seattle-based Amazon said revenue from online sales was up 10% billion while money taken in from subscription services and the Amazon Web Services Cloud platform leapt some 40.
The “other” revenue segment, which includes online advertising, grew some 34% from a year ago.
Shares in Amazon – which has expanded from its origins in e-commerce to Cloud services, streaming media, artificial intelligence and brick-and-mortar grocery stores – wobbled in after-market trades, dipping briefly before returning to a modest gain of 0.6%.