Amazon seems to have reversed the poor figures of its companions from the “Magnificent Seven” who presented their results yesterday. The company run by Andy Jassy beat revenues and profitsand showed strong growth in the cloud and advertising sectors which increased its shares by more than 4% in after-hours.
More specifically, the company recorded a turnover of 158.88 billion dollars, up 11% year-on-year, exceeding the 157.290 million expected by the analyst consensus. Regarding its profits, the company made $15.3 billion, or $1.43 per share, significantly exceeding the $1.16 calculated by experts.
This increase came from the hand of a strong growth in cloud sectorswith its subsidiary Amazon Web Services, and its growing advertising business, both of which climbed 19% from the previous year. AWS reached 27,450 million, although that’s still a hair below the 27,490 calculated by analysts. And in advertising, they got 14.3 billion, as expected, which brings the retail giant closer to its two big industry rivals, Facebook and Google.
After presenting the data, Jassy, president and CEO of the company, said: “As we enter the holiday season, we are excited about what we have in store for our customers. We kicked off the holiday season with our best. “Prime Big Deal Days” and the launch of our new Kindle range exceeds our expectations.”
