Amazon beats optimistic first-quarter earnings expectations – TechCrunch
Amazon announced today that it has beaten Wall Street's already optimistic Q1 forecasts. The revenue of the e-commerce giant has slowed somewhat, which contributes to moderate fluctuations in the after-sales trade, but the company benefits greatly from ever-increasing profit margins.
The net result for the quarter hit $ 3.6 billion, a new record for companies. Much of the inflated margin can be chalked up to online services, including advertising and, most importantly, cloud services through the AWS.
The result report shows how much the website has diversified the portfolio, with revenues that now contain results from all Foods, which Amazon absorbed last year. The food retail chain has seen the effect of several rounds of price reductions since it became part of Amazon, but its growth is slow compared to its cloud offerings.
Jeff Bezos took the opportunity to note the company's increased investment in education. Amazon has pushed to mark its softer side too late, as it has been the target of negative publicity over working conditions in its fulfillment centers, and has since released plans to open an HQ2 in Queens.
"The son of a working single mother, Leo Jean Baptiste grew up and spoke Haitian Creole in a home in New Jersey without internet access. He is also one of our initial groups of 1[ads1]00 senior seniors to receive a $ 40,000 Amazon Future Engineer scholarship and Amazon internship, he says in a statement. "Our passion for invention led us to create Amazon Future Engineer so we could help young people like Leo from under-represented groups and underserved communities across the country."
It is a rosy picture for a company that has killed it on revenue, even though the company was less bullish in terms of Q2 as growth has slowed, Amazon offered guidance of as much as $ 1.6 billion under Wall Street's expectations of 4, $ 2 billion As CNBC notes, it may well point to the company's intention to make more investments ahead.