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.
SMPTE elects board officers, regional governors
SMPTE®,the home of media professionals, technologists, and engineers, has revealed the board officers and regional governors who will serve terms beginning in January 2025.
Three new officers--Richard Welsh as SMPTE president, Eric Gsell as SMPTE executive VP, and Polly Hickling as SMPTE Education VP--have been elected for a two-year term from Jan. 1, 2025, to Dec. 31, 2026. One SMPTE officer, Lisa Hobbs, will be continuing her service as SMPTE secretary and treasurer for another two-year term. Additionally, Raymond Yeung will be stepping into the role of standards VP on Jan. 1, 2025.
“SMPTE’s membership has spoken,” said SMPTE interim executive director Sally-Ann D’Amato. “These officers have been tasked with an important responsibility, one each of them is prepared to tackle head-on. These next two years are looking bright for SMPTE!”
In addition to the officers, 10 regional governors were elected by the Society to serve two-year 2025-2026 terms.
These include the following regional governors, re-elected to continue their service:
Asia-Pacific Region Governor
Tony Ngai, Society of Motion Imaging Ltd.
EMEA - Central & South America Region Governor
Fernando Bittencourt, FB Consultant
United Kingdom Region Governor
Chris Johns, Sky UK.
USA - Central Region Governor
William T. Hayes, Consultant
USA - Eastern Region Governor
Dover Jeanne Mundt, Riedel Communications
USA - Western Region Governor
Jeffrey F. Way, Open Drives
Also elected were four newcomers to the SMPTE Board:
Canada Region Governor
Jonathan Jobin, Grass Valley
USA - Hollywood Region Governor
Allan Schollnick, Voxx... Read More