Amazon announces higher-than-expected jump in profits

26-04-2019 MEDIA IN\ AGENCIES
Amazon.com today reported a better than expected first-quarter profit, boosted by a jump in demand for its cloud computing and advertising services, pushing its shares up 1 percent in subsequent trading on Wall Street.
The world’s largest e-commerce company said its first-quarter profit more than doubled to $ 3.56 billion, or $ 7.09 per share, while analysts had forecast only $ 4.72 a share.
But Amazon expected operating income for the second quarter to rise to $ 3.6 billion, while analysts expect $ 4.2 billion.
Revenue from sales services rose 20 percent to $ 11.1 billion in the first quarter, while advertising and other sales jumped 34 percent to $ 2.7 billion, the company said.
Net sales in North America, Amazon’s largest market, jumped 17 percent to $ 35.81 billion in the first quarter.
The company forecast net sales in the second quarter would range from $ 59.5 billion to $ 63.5 billion, compared with an average forecast of $ 62.37 billion