Amazon Q1 FY 2024-25 Results: The first quarter was great for the giant American technology company Amazon. In the first quarter of the financial year 2024-25 (April-June 2024), Amazon earned $13.5 billion. The company gave information on its financial results on Thursday. These figures of earnings of this technology company based in Seattle, America are more than the $10.99 billion estimated by FactSet.
How was the company’s revenue in the first quarter of the current financial year
In the first quarter of FY 2024-25, Amazon’s earnings per share were $1.26, higher than analysts’ expectations of $1.03. The company generated revenue of US$148 billion, 10 percent higher than expected. However, this is slightly lower than analysts’ estimate of US$148.67 billion.
E-commerce and advertising also increased
Meanwhile, the company’s main e-commerce business’ revenue also grew by 5 percent. The giant American company said that sales from the advertising business grew by 20 percent in the first quarter of the current financial year.
The company’s stock fell due to the lack of growth in sales
Amazon.com reported a slowdown in online sales growth in the second quarter and said consumers were looking for cheaper options to shop, sending shares down nearly 8%, Reuters reported.
Amazon shares have risen by 20% this year
The company’s shares fell despite second quarter profits and cloud computing sales. As of the close of trading on Thursday, Amazon shares had risen more than 20% this year. The company’s shares on NASDAQ are currently at $184.07, down 1.56 percent. Amazon’s 52-week high is $201.20 and 52-week low is $118.35.
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