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Strong sales at Amazon’s cloud computing division helped the Big Tech giant beat analyst estimates for revenue and profit in an earnings report on Tuesday.
Sales at Amazon Web Services, a critical profit driver for the ecommerce giant, rose 17 per cent to $25bn, ahead of forecasts for $24.5bn. Overall net sales were $143.3bn, up 13 per cent from the year before and above forecasts for $142.50bn.
Amazon’s operating income for the first three months of the year was $15.3bn, beating forecasts for $11bn.
However, guidance for total second-quarter net sales came in below expectations, with Amazon predicting between $144bn-$149bn compared with analyst forecasts of $150bn.
Shares in Amazon, which have risen by about 17 per cent this year, rose nearly 3 per cent in after-hours trading.
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