Amazon cloud and ad revenue grows

By Agence France-Presse

Apr 29, 2023 12:07 am

SAN FRANCISCO, California: Online retail titan Amazon on Thursday reported that its cloud and ads units helped it beat earnings expectations in the first quarter of this year despite shoppers and businesses being more careful about spending.

'For the first time in several quarters, Amazon may finally have a bit of wind at its back,' said Insider Intelligence principal analyst Andrew Lipsman.

CAUTIOUS SPENDING In this file photo taken on Feb. 2, 2023 of the Amazon logo on a locker in Annapolis, Maryland. Shares in Amazon leapt on Thursday, April 27, 2023, after the online retail colossus reported it made a lot more money than expected in the first quarter of 2023. AFP PHOTO

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