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    Amazon’s profit more than doubles on cloud computing, ad biz growth

    By SHOOTUpdated:No Comments1733 Views
    In this Feb. 14, 2019 file photo, people stand in the lobby for Amazon offices in New York. Amazon.com Inc. reports earns on Thursday, April 25. (AP Photo/Mark Lennihan, File)

    By Joseph Pisani, Retail Writer

    NEW YORK (AP) --

    Amazon's push into advertising and cloud computing is paying off, helping the online shopping giant's first quarter profit more than double from a year ago.

    The Seattle-based company on Thursday reported net income of $3.56 billion, or $7.09 per share, for the first three months of the year.

    That beat expectations of $4.61 per share, according to Zacks Investment Research. In the same time a year ago, it reported net income of $1.63 billion, or $3.27 per share.

    Revenue rose 17% to $59.7 billion, which also beat Wall Street expectations.

    At its cloud computing business, called Amazon Web Services, revenue soared 41%.

    The company doesn't say exactly how much its advertising business makes. Instead it lists it as part of its "other" revenue, which jumped 34% from a year ago.

    For the current quarter ending in July, Amazon said it expects revenue in the range of $59.5 billion to $63.5 billion. Analysts expected revenue of $62.53 billion.

    Shares of Amazon.com Inc., which are up 27% so far this year, rose 1.6% to $1,933 in after-hours trading Thursday.

    Elements of this story were generated by Automated Insights using data from Zacks Investment Research. 

    Tags:Amazon



    Kevin Costner to receive MPSE Filmmaker Award; Greg Hedgepath named recipient of MPSE Career Achievement honor

    Thursday, November 21, 2024
    Kevin Costner (photo courtesy of Kevin Costner)

    Motion Picture Sound Editors (MPSE) will present Oscar®-winning filmmaker and actor Kevin Costner with the 2025 MPSE Filmmaker Award, bestowed annually to a filmmaker of distinction. And supervising sound editor Greg Hedgepath will receive the Career Achievement Award for his prolific career in sound editing. Both awards will be presented during MPSE’s 72nd Annual Golden Reel Awards Gala on February 23, 2025 at the Ebell Theatre in Los Angeles.

    The MPSE Filmmaker Award is bestowed upon an individual outside the sound community whose career has demonstrated a great appreciation and understanding of the impact of sound editing. The MPSE Career Achievement Award is presented to a person whose career has made a significant impact on the sound community through exemplary work, service or leadership.

    “Kevin Costner has captivated audiences with his powerful storytelling throughout his illustrious career,” said MPSE president David Barber. “From epic Westerns to poignant dramas, his use of sound as an integral component of his cinematic storytelling has stirred our emotions and immersed viewers in the worlds he’s created for decades. This passion for sound is abundantly clear in his latest ambitious project, the Horizon saga. We are thrilled to honor him with the Filmmaker Award, recognizing his exceptional contributions to the art of storytelling through sound in film and television.”

    Barber added, “Greg Hedgepath is a true titan in the world of sound. His contributions to cinema are immense, spanning decades and encompassing a remarkable range of genres. From the heart-pounding intensity of ‘Speed’ and ‘Twister’ to the nuanced drama of ‘Selma’ and ‘Straight Outta Compton’, Greg’s work has consistently elevated... Read More

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