American online giant Amazon outperformed analysts' expectations during the first quarter: its profit reached more than 500 million dollars, which is almost twice what analysts had predicted.
Amazon Web Services performed well
Amazon's turnover grew 28 % in the first quarter, up to 29.1 billion dollars (26 billion euro), better than analysts' expectations between 26.5 and 29 billion dollars. Its cloud division, Amazon Web Services, performed very well: turnover grew 64 % to 2.6 billion euro (2.3 billion euro), easily outperforming its competitors like Google and Microsoft.
Operational profit grew from 255 million to 1.1 billion dollars (220 to 960 million euro), while net profit reached 513 million dollars (450 million euro), almost twice as much what analysts had expected and an incredible improvement over last year's loss of 57 million dollar (50 million euro).
For its current quarter, Amazon expects a 28 to 30.5 billion dollar (24.6 to 26.8 billion euro) turnover, which is also higher than what analysts expect.