iWorld

Amazon posts record profit of $3.6 bn, smashes industry expectations

Its booming cloud business continued high growth

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2019/04/26/ama.jpg?itok=m3iydm3E

MUMBAI: E-commerce giant Amazon posted its first-quarter earnings beating analysts’ expectations for profit. It reported $3.6 billion net income in the quarter, more than twice the investors’ predictions. However, the $59.7 billion revenue of the company was in line with Wall Street expectations, up 16 per cent year-over-year.

While the Jeff Bezos-led company saw fatter profit margin, it witnessed the slowest growth period since first quarter of 2015 in terms of revenue. While its North American revenue saw a 17 per cent increase, compared with last year’s 46 per cent growth, Amazon’s international growth dropped to just 9 per cent, down from the previous year’s 34 per cent growth rate.

Amazon’s booming cloud business continued its growth with 41 per cent sales increase to $7.70 billion. But the ‘other’ segment of the company which includes the retail giant’s advertising business significantly slowed down. The segment touched $2.72 billion revenue, up 34 per cent year-on-year while it grew at least 60 per cent in the past five quarters.

To maintain its growth momentum, the company is now heavily leaning on cloud computing and advertising. Amazon is continuing to invest heavily in artificial intelligence, the smart home, and physical retail which may not give fast results.

Net sales are expected to be between $59.5 billion and $63.5 billion for next quarter as the company guided, or to grow between 13 per cent and 20 per cent compared with the second quarter of 2018. The company expects operating income to be between $2.6 billion and $3.6 billion, compared with $3.0 billion in the second quarter 2018.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/25/img_25012022_163112_800_x_800_pixel.jpg?itok=CCerpMr1
AT&T rolls out fastest consumer broadband at 2-gig, 5-gig speeds

Mumbai: Telecommunication giant AT&T has rolled out the fastest consumer broadband services at new multi-gig speeds of 2-gig and 5-gig for its fiber customers across parts of the network’s footprint. Starting 24 January, AT&T’s nearly 5.2 million customer locations in parts of more than 70...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/24/poker.jpg?itok=YGjrr_w_
National Poker Series set to return with second edition on 6 March

National Poker Series (NPS) India is set to return with its second edition on 6 March. The series has announced a prize pool of Rs 18.5 crore for 84 tournaments across 15 days.

iWorld e-commerce
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/24/trai_0.jpg?itok=HP3OeW4U
Trai directs DPOs to comply with provisions of interconnection regulations

Mumbai: The Telecom Regulatory Authority of India (Trai) has directed all distribution platform operators (DPOs) to ensure compliance with the provisions of the interconnection regulations pertaining to the listing and display of TV channels on the electronic programme guide (EPG). The telecom...

iWorld Telecom
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/24/netflix.jpg?itok=3Ck11E1i
Netflix launches ‘Take Ten’ initiative to support emerging filmmakers

Mumbai: Netflix on Monday announced the launch of 'Take Ten,' a short film workshop and competition, that aims to discover and support emerging filmmakers from diverse backgrounds in India. 'Take Ten' is sponsored by Netflix Fund for Creative Equity, which has dedicated $100 million a year over...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/24/trai.jpg?itok=Ozc84E6w
Trai to come up with recommendations to facilitate 5G rollout

Mumbai: The Telecom Regulatory Authority of India (Trai) will soon come up with recommendations to facilitate telecom connectivity and for easing out network rollout issues being faced by telecom companies, especially with regard to 5G.   During a virtual event organised by Digital Infrastructure...

iWorld Telecom
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/24/zz.jpg?itok=YkhYKVlQ
‘Akhanda’ becomes most-watched Telugu film on Disney+ Hotstar

OTT streaming service Disney+ Hotstar stated that the film "Akhanda" has garnered the highest viewership and watch time on the platform for a Telugu language title.

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/22/gaana.jpg?itok=AQ_HJ_Rn
Podcast consumption on Gaana jumped 40 % YoY in 2021: CMO Shashwat Goswami

If the digital revolution paved the way for the OTT boom, it also provided a fresh impetus to the audio industry to evolve with the changing times. As the habit of consuming content on the go became a lifestyle for people, audio emerged as the most convenient option to keep one entertained and...

iWorld Over The Top Services
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/21/vi.jpg?itok=sJV18Cgh
Vodafone Idea reports consolidated loss of Rs 7,231 cr in Q3

Vodafone Idea on Friday reported a consolidated loss of Rs 7,230.9 crore for the third quarter ending December 2021. This is up from Rs 4,532.1 crore that the telecom major reported in the corresponding quarter previous year.

iWorld Telecom
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2022/01/21/reliance.jpg?itok=mhvpWXWY
Reliance net profit jumps 41 % YoY to reach Rs 18,549 crores in Q3

Mumbai: Mukesh Ambani-led conglomerate Reliance Industries Ltd (RIL) continued its golden run, and posted a net profit of Rs 18,549 crores for the third quarter ended 31 December 2021. This is an increase of 41 per cent from ₹13,101 crore reported a year ago during the same period. The company had...

iWorld Telecom

Sign up for our Newsletter

subscribe for latest stories

* indicates required