Amazon increased revenue to $143 billion in the first quarter – E24

The matter is being updated…

This was expected about the internet giant’s results for the first quarter:

• Revenue of $142.59 billion, according to Bloomberg estimates.
• Earnings per share (EPS) of $0.82.
• Operating profit of $10.95 billion.
• Revenue in Amazon’s cloud storage service Amazon Web Services (AWS) of $24.11 billion.

This is the first publication of results after Amazon in January introduced a new source of income in the form of advertising on Prime video.

Amazon shares fell in trading on Wall Street ahead of the figures release.

The cloud service segment now accounts for a large part of Amazon’s growth. Bloomberg expected ahead of the figures that the technology company would report an increase in revenue of 12 percent in the first quarter, driven by growth in the cloud storage service, among other things.

Among other things, there has been tension as to whether the figures would show that the company’s attempt to succeed with artificial intelligence (AI) is keeping the cloud services up and running.

Last week, tech giants Microsoft, Alphabet, Meta and Tesla presented quarterly figures.

Both Alphabet and Microsoft delivered better-than-expected figures, well driven by growth in cloud services and demand for AI services.

Amazon has until now been the largest player in cloud sharing, but the competition in this segment is now becoming more intense, writes Bloomberg.