Amazon's Q1: Profits Soar, AWS Drives Growth

0:00It's April 29th. This is Canada News Today, powered by AI. I'm Cory with the story. Amazon has dropped their first quarter numbers and their straight fire. Profits hit $30.3 billion or $2.78 per share, way up from $17.1 billion last year. Net sales climbed 17% to $181.5 billion, beating what analysts expected. That growth got a huge boost from Amazon Web Services, their cloud arm, which saw sales jump 28%. The fastest pace in 15. Quarters. It topped the 24% from last quarter and 20% before that. Analysts had paked earnings at $1.63 per share on $177.28 billion in sales, so Amazon. Crushed those marks. AWS alone pulled in $37.58 billion, topping the $36.6 billion forecast. Looking ahead, the company's bullish on the current quarter, projecting net sales between

1:01$194 billion and $199 billion. That's 16% to 19% growth, smoking past the $188.96 billion analysts saw coming. All signs point to Amazon keeping that momentum rolling strong.