Amazon tops Wall Street targets, lifted by cloud revenue

Amazon.com Inc posted strong results across its older and newer businesses on Thursday as global Web retail sales and cloud services topped Wall Street targets and the world's largest online merchant forecast revenue would outpace expectations in the current quarter as well. The Seattle-based company is riding a wave of retail sales moving to the internet, and its Netflix-like video streaming is bringing new customers to its subscription Prime service, which in turn drives customers to spend more on Amazon. The cloud unit, Amazon Web Services, is the company's fastest-growing business and is regarded by analysts as the next driver of growth for the company.

Original story here.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply