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Amazon’s first quarter profit rises 41 percent | Reuters

Amazon.com Inc (AMZN.O) posted a 41.1 percent jump in first-quarter profit on Thursday, driven by sustained growth in online retail sales and its profitable cloud business.

The world’s biggest online retailer said net income rose to $724 million, or $1.48 per share, from $513 million, or $1.07 per share, a year earlier. This marks the eighth straight quarter Amazon has posted a net profit.


The company’s net sales rose 22.6 percent to $35.71 billion in the quarter ended March 31 from $29.13 billion. [nBwb6Lb79a]

(Reporting by Anya George Tharakan in Bengaluru; Editing by Savio D’Souza)

Reuters