Amazon seems to have turned around the bad figures of its companions from the ‘Magnificent Seven’ that presented results yesterday. The company run by Andy Jassy has beaten revenues and profitsand has shown strong growth in the cloud and advertising sectors that have boosted its shares by more than 4% in the after hours.
Specifically, the firm has registered revenue of $158.88 billion, up 11% year-on-year, beating the 157,290 million expected by the analyst consensus. Regarding its profits, the firm has achieved 15.3 billion dollars or 1.43 dollars per share, clearly beating the 1.16 dollars that experts calculated.
This rise has come from the hand of a strong growth in cloud sectorswith its subsidiary Amazon Web Services, and its growing advertising business, which have both skyrocketed 19% compared to the previous year. AWS has achieved 27,450 million, although it remains a hair below the 27,490 that analysts calculated. And in advertising they have obtained 14.3 billion, as expected, which brings the retail giant closer to its two major rivals in the sector, Facebook and Google.
After presenting the data, Jassy, president and CEO of the company, stated: “As we enter the holiday season, we are excited about what we have in store for our customers. We have kicked off the holiday season with our best “Prime Big Deal Days,” and the launch of our new Kindle line is exceeding our expectations.”
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