(Reuters) – Amazon reported better-than-expected January-March results on Tuesday, but gave a disappointing revenue forecast for the current quarter, anticipating a drop in corporate spending on cloud computing services (“cloud”).
The title of the online commerce giant rose 6% in after-hours trading before erasing part of these gains. He ended the session on Wall Street in the red.
Amazon anticipates revenue for the current quarter of between $144 billion and $149 billion, while analysts on average expected an amount of $150.07 billion according to LSEG data.
Over the January-March period, the group’s sales reached $143.3 billion, compared to a consensus compiled by LSEG which stood at $142.5 billion.
The Amazon Web Services (AWS) division, the largest cloud service provider, recorded a 17% increase in revenue to $25 billion, beating expectations ($24.53 billion).
By comparison, rival divisions Microsoft and Alphabet reported revenues up 31% and 28%, respectively, in the first quarter.
Amazon reported quarterly net profit tripled compared to the same period last year, at $10.4 billion, or $0.98 diluted per share.
Unlike Alphabet and Meta Platforms, two others of Wall Street’s ‘Magnificent Seven’, Amazon has not announced a dividend.
(Yuvraj Malik in Bangalore and Greg Bensinger in San Francisco; French version Jean Terzian)
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