HomeAbout

TL;DR CNBC


Amazon cost cuts drive operating margin into double digits for first time - TL;DR CNBC

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

Tickers: AMZNGOOGLMETA

Keywords: businessamazon.com incalphabet incmeta platforms incbreaking news: technologytechnologysocial mediabusiness news

Source: https://www.cnbc.com/2024/04/30/amazon-cost-cuts-lift-operating-margin-to-double-digits-for-first-time.html


Developed by Leo Phan