Today's Hard|Forum Post
Today's Hard|Forum Post

Friday April 29, 2016

Amazon Profit Crushes Estimates As Cloud-Service Revenue Soars

While everyone else seems to be turning in disappointing earnings, Amazon seems to be doing just fine. In fact, the company did so well that its shares were up almost thirteen percent after the closing bell on Wall Street yesterday.

The results draw a sharp contrast to the disappointing fourth quarter Amazon reported in January, which renewed worries among some shareholders about the company's comparatively thin profit margins. Shares of the world's biggest online retailer jumped nearly 13 percent to $679 in extended trading on Thursday. Amazon's performance also assuaged concerns about a broader slowdown among tech and internet companies after Apple (AAPL.O), Microsoft (MSFT.O) and Intel (INTC.O) all reported disappointing earnings.