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Stockreport

Amazon cost cuts drive operating margin into double digits for first time [CNBC]

Alphabet Inc. - Class C Capital Stock (GOOG)  More Company Research Source: CNBC
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: abc.xyz/investor
In its first-quarter earnings report on Tuesday, Amazon's operating margin reached double digits for the first time on record. The company's margin climbed to 10.7% in the period, up from 7.8% in the fourth quarter and topping a previous high of 8.2% in the first quarter of 2021. While overall revenue growth has been stuck in the low double digits for several quarters — and was mired in single digits for parts of 2021 and 2022 — profit-hungry investors have been satisfied by the combination of CEO Andy Jassy's hefty cost cuts and stronger growth rates in higher-margin businesses like advertising and cloud computing. Operating income more than tripled in the quarter to $15.3 billion, while net income also jumped more than 200% to $10.4 billion. “It tells us that Andy Jassy's emphasis of services for Amazon is working,” said Tom Forte, an analyst at Maxim Group, in an interview with CNBC's “Closing Bell: Overtime” on Tuesday. “When you couple that with his very aggressive expense [Read more]
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Stockreport

Amazon cost cuts drive operating margin into double digits for first time [CNBC]

Alphabet Inc. - Class C Capital Stock  (GOOG) 
More Company Research Source: CNBC
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: abc.xyz/investor
In its first-quarter earnings report on Tuesday, Amazon's operating margin reached double digits for the first time on record. The company's margin climbed to 10.7% in the period, up from 7.8% in the fourth quarter and topping a previous high of 8.2% in the first quarter of 2021. While overall revenue growth has been stuck in the low double digits for several quarters — and was mired in single digits for parts of 2021 and 2022 — profit-hungry investors have been satisfied by the combination of CEO Andy Jassy's hefty cost cuts and stronger growth rates in higher-margin businesses like advertising and cloud computing. Operating income more than tripled in the quarter to $15.3 billion, while net income also jumped more than 200% to $10.4 billion. “It tells us that Andy Jassy's emphasis of services for Amazon is working,” said Tom Forte, an analyst at Maxim Group, in an interview with CNBC's “Closing Bell: Overtime” on Tuesday. “When you couple that with his very aggressive expense [Read more]
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GOOG
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