Amazon cloud revenue, income forecast disappoint, shares slide
Amazon.com on Thursday reported first-quarter cloud revenue growth and forecast operating income below estimates, disappointing investors. Shares of the company fell as much as 5% in after-hours trading before paring losses to about 1%. Amazon Web Services, the company’s cloud unit, recorded a 16.9% increase in quarterly revenue, to $29.27 billion, missing expectations of 17.4%…
READ MOREAmazon Q1 Earnings Preview: Tariffs Jitters Are High Ahead of Results
Wall Street is feeling upbeat but cautious before Amazon’s first-quarter earnings report on Thursday. While investors are eager to gauge how the e-commerce giant performed amid the rise in recession fears during the first three months of the year, Amazon’s second-quarter guidance will be particularly important. That’s because the company is especially vulnerable to tariffs,…
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