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Amazon Q1 sales rise 17%; cloud computing segment has fastest growth in 15 quarters

Amazon reported a strong first quarter with better-than-expected earnings and revenue. 

The company also announced that it will move its annual Amazon Prime Day  sales extravaganza from its traditional mid-July setting to unspecified dates in June.  (The only other two times Prime Day occurred outside of July were 2020, when it was pushed to October due to the COVID-19 pandemic, and in 2021 when Amazon hosted the event in June as the economy was still in recovery from the pandemic.)

Amazon’s first-quarter performance was helped by strong growth in its cloud business, with its AWS (Amazon Web Services) segment’s revenue rising 28% year-over-year to $37.6 billion. Amazon said it was the segment’s fastest growth in 15 quarters. 

Amazon Q1 sales rise 17%; cloud computing segment has fastest growth in 15 quarters | Chain Store Age

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