Amazon cost cuts drive operating margin into double digits for first time
Publishing timestamp: 2024-05-01 05:37:02
Summary
Amazon's operating margin has surpassed 10%, reaching double digits for the first time on record. The company is cutting costs and seeing revenue growth in higher-margin businesses like Amazon Web Services and advertising. Operating income more than tripled in the quarter, with net income also jumping over 200%. CEO Andy Jassy's emphasis on services and cost cuts are driving impressive margins, leading to a positive outlook for continued profitability.
Sentiment: POSITIVE
Keywords: business, amazon.com inc, alphabet inc, meta platforms inc, breaking news: technology, technology, social media, business news,