Amazon sales soar with boost from artificial intelligence and advertising
by Kari Paul from on (#6MFGX)
Revenue at Amazon Web Services increases to $25bn as retail giant releases earnings report surpassing Wall Street expectations
Amazon profits soared once again in the first quarter of 2024, the company announced on Tuesday - the latest in a series of robust earnings reports for the retail giant. The company attributed the boost to artificial intelligence and advertising sales.
Amazon reported overall revenue of $143.3bn in the first three months of the year - up 13% from the same period in 2023 and surpassing Wall Street expectations of $142.65bn. The e-commerce giant reported an increase of more than 200% to $15bn, with net income more than tripling to $10.4bn from $3.17bn at the same time in 2023.
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