Amazon beats expectations in first quarter earnings as shares jump 11%
by Edward Helmore from Technology | The Guardian on (#6B7RD)
E-commerce behemoth, in the midst of aggressively cutting costs including laying-off 27,000 workers, reported revenue growth
Amazon shares jumped more than 11%, as income from its cloud computing and advertising units beat estimates for the first quarter of the year.
The e-commerce behemoth, which is in the midst of aggressively cutting costs including laying-off 27,000 workers, said revenue for the quarter was $127.4bn, a 9% growth compared with the $116.4bn it reported during the same period last year.
Reuters contributed reporting
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