Amazon’s Profit Outperforms Expectations
(MENAFN) Amazon surpassed analyst forecasts in its first-quarter financial report, released on Thursday. The company's income grew by 9 percent between January and March when compared to the same period in the prior year.
Total sales climbed to USD155.7 billion, outperforming Wall Street predictions, which had anticipated approximately USD155 billion.
Simultaneously, Amazon's profit more than doubled, reaching USD17.1 billion, a significant jump from USD10.4 billion reported during the corresponding quarter last year.
Additionally, earnings per share increased, moving up to USD1.59, compared to the previous year's figure of USD0.98. This also exceeded investor expectations, which had forecast USD1.36 per share.
Looking ahead, the company stated it projects second-quarter revenue to fall within the range of USD159 billion to USD164 billion.
However, Amazon also issued a word of caution regarding potential uncertainties that could affect its financial performance.
In a formal release, the corporation stated: "Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates, changes in global economic and geopolitical conditions, tariff and trade policies, and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor market constraints, world events, the rate of growth of the internet, online commerce, cloud services, and new and emerging technologies."
These remarks underline the complexity of navigating a volatile global economy, despite the company's current strong position.
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