Like Meta Platforms (NASDAQ:META), Snap Inc (NYSE:SNAP) and Google parent Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL), Amazon.com Inc (NASDAQ:AMZN) reported better-than-expected quarterly results, with stronger than expected revenue being the result of the improvements on the ad business front.
First Quarter Highlights
In part due to its booming AWS division and its advertising service, Amazon reported revenue grew 12.52% YoY to $143.3 billion, surpassing LSEG's estimate of $142.5 billion. Operating income far outpaced revenue growth as well as it soared more than 200% to $15.3 billion, which is the first sign that Amazon's cost-cutting initiatives and efficiency...
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