Amazon reported better-than-expected net sales of $127.36 billion in the first three months of the year
first-quarter revenue beat estimates on Thursday, helped by resilient demand for online shopping and cloud services businesses, sending its shares up about 9% 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 9% of its roughly 300,000-strong corporate staff.
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