Amazon beats on profit and revenue, with growth of 13%
Posted: Apr 30, 2024
- Amazon (AMZN) reported better-than-expected earnings and revenue for the first quarter - Amazon's advertising revenue grew 24% in the first quarter - Amazon Web Services (AWS) reported results that topped estimates - Amazon's operating income soared over 200% in the period - Amazon laid off more than 27,000 employees since late 2022 - Amazon's advertising unit saw sales surge 24% to $11.8 billion - Revenue from third-party seller services grew 16% year over year to $34.5 billion - Meta, Snap, and Google parent Alphabet all reported better-than-expected revenue growth in their ad businesses
Summarized top reddit comments: - Stock price goes down after Amazon beats on profit and revenue - Discussion about rich getting richer and weak getting weaker - Speculation about the CFO dumping stock - Confusion about why stock is dropping - Strategy of buying puts and then calls - Mention of Theta gang winning - Warning against short-term options trading - Hope for success in weed stocks - Expression of love for Amazon and its success
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