Amazon on Wednesday reported strong increases in profits and net sales during its fiscal first quarter, helped by surging growth in its prominent cloud computing unit.
The e-commerce and technology company said that sales in its cloud computing unit were up 28% in the January-March period, the fastest increase in 15 quarters. Amazon Web Services had 24% sales growth in the fourth quarter, which followed the division’s 20% growth in the third quarter.
The Seattle-based company also offered a bullish outlook for net sales in the current quarter, surpassing analysts’ estimates. However, shares slid nearly 2% in after-hours trading before rising about 3%.
Investors were closely watching Amazon’s quarterly earnings to see if the company’s $200 billion investment in artificial intelligence, robots, semiconductors and satellites is starting to pay off. The planned expenditure for the year marked a 60% increase from Amazon’s $128 billion in capital spending last year…
https://fortune.com/2026/04/30/amazon-earnings-cloud-sales-ai-capex-stock-falls/
