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 Video scripted originals earlier this year. Already, it had built an ad business on its Freevee service as well as gamer-centric Twitch.
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