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Amazon announced today that it has beat Wall Street’s already optimistic Q1 projections. The e-commerce giant’s revenues have slowed a bit, contributing to moderate fluctuations in after hours trading, but the company’s greatly benefit by ever-increasing profit margins.
Net income for the quarter hit $3.6 billion, a new record for the company. Much of those inflated margins can be chalked up to online services, including advertising and, most notably, cloud services through AWS.
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The earnings report demonstrates just how much the site has diversified its portfolio, with earnings that now include results from Whole Foods, which Amazon absorbed last year. The grocery store chain has seen the impact of multiple rounds of price cuts since becoming a part of Amazon, though growth on that side is slow compared to the company’s cloud offerings.
Jeff Bezos took the opportunity to note the company’s increased investment in education. Amazon’s been pushing to highlight its softer side of late, as its been the target of...
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