Amazon surpassed Wall Street forecasts with revenue of $181.5 billion in the March quarter, up 17% from the year earlier, the company reported Wednesday. CEO Andy Jassy noted that Project Hail Mary‘s nearly $615 million at the box office to date among the company’s achievements for the three months.
Sales and profit numbers were a beat as was the key Amazon Web Services cloud business with $37.6 billion in revenue, up 28%.
Net income rose to $30 billion from $17 billion, including a pre-tax gain of $16.8 billion from investments in Anthropic. Earnings per share of $2.78 rose from $1.59.
Free cash flow dipped to $1.2 billion for the trailing 12 months as Amazon ramped up investments in artificial intelligence. There’s an AI arms race on now among tech giants and stocks were volatile in late trading as a handful including Microsoft, Meta and Alphabet also reported numbers after
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