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Amazon triples profits in pin-point customer led focus

Amazon’s Q1 earnings and revenue exceeded expectations, emphasised by the expansion of its advertising and cloud computing sectors.

  • Earnings per share: 98 cents vs. 83 cents expected
  • Revenue: $143.3 billion vs. $142.5 billion expected

The operating income surged over 200% to $15.3 billion in the period, significantly exceeding revenue growth, indicating that the company’s cost-reduction strategies and efficiency improvements are enhancing its financial performance.

AWS contributed to 62% of the total operating profit. The net income also saw a more than threefold increase to $10.4 billion, or 98 cents per share, up from $3.17 billion, or 31 cents per share, in the previous year. There was a 13% rise in sales from $127.4 billion the previous year.

One year Amazon chart May 2023 – April 2024

One year Amazon chart May 2023 – April 2024

Amazon expects a continued rise in profitability for the Q2, albeit at a more consistent pace. The company projects its operating income to range from $10 billion to $14 billion, marking an increase from the previous year’s $7.7 billion.

It’s all about the customer

Amazon is dedicated to enhancing customer experiences daily through innovative and advanced products and services. This commitment extends to consumers, brands, sellers, enterprises, developers and content creators alike.

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