Amazon Beats Wall Street Q1 Forecasts As Advertising Growth Continues

Amazon beat Wall Street forecasts for profit and revenue in the first quarter as advertising continued to grow at a healthy clip. Net income increased to 98 cents per share on a diluted basis, up from 31 cents in the year-ago quarter. Total revenue reached $143.3 billion, up 13%. Both metrics were about 15% ahead of analysts’ consensus outlook. Advertising services, a category that includes Prime Video, increased 24% to $11.8 billion. As part of a broader push, the tech giant began running ads on Prime Vid ...