Amazon’s quarterly profit jumps and revenue increases

The company reported adjusted earnings of $17.127 billion, or $1.59 per share, in the first quarter, up from $10.431 billion, or 98 cents per share, a year earlier. Revenue rose 9 percent to $155.667 billion in the three months ended March.

Analysts had expected a lower earnings of $1.37 per share on revenue of $155.2 billion.

Revenue from Amazon Web Services (AWS), the company’s cloud division, rose 17 percent to $29.267 billion. Analysts had expected a better figure of $29.45 billion. The company’s North American sales rose 8 percent year-over-year to $92.9 billion, while its international sales rose 5 percent to $33.5 billion.

Amazon forecast revenue of $159 billion to $164 billion in the current second quarter, compared with an average forecast of $161.2 billion.
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