Amazon revenue beat driven by online shopping demand, cloud unit
‘s first-quarter revenue beat estimates on Thursday, helped by resilient demand for online shopping and cloud services businesses, sending its shares up about nine per cent in extended trading.
Net profit stood at $3.17 billion in the quarter ended March 31, compared with a loss of $3.84 billion, a year earlier. Last month, he said Amazon would cut more jobs, now from its long-profitable cloud and advertising divisions, expanding the company’s layoffs since November to 27,000 employees, or nine per cent of its roughly 300,000-strong corporate staff.Amazon likewise has ended entire services, including on Wednesday when it said it would pull its lineup of Halo health trackers and refund recent purchases.
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