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Amazon’s Profit Swells to $1.6 Billion, Lifted by Its Cloud Business

Amazon’s Profit Swells to $1.6 Billion, Lifted by Its Cloud Business Photo Amazon’s revenue for the first quarter jumped 43 percent from a year earlier, rising to $51 billion from $35.7 billion in the same period last year. Credit Scott Olson/Getty Images SEATTLE — Jeff Bezos, Amazon’s founder and chief executive, long ago figured out how to keep Amazon’s sales figures shooting skyward. Now he is doing the same with profit.
The company, which once seemed to have only a passing interest in turning a profit, said its net income for the first quarter more than doubled. Although Amazon is best known as an internet shopping destination, its cloud computing and advertising businesses were big contributors to the jump in profit.
Mr. Bezos singled out the performance of the company’s cloud computing business — known as Amazon Web Services, or A.W.S. — referring in a statement to a “remarkable acceleration” in growth in the segment for a second consecutive quarter.
Amazon often boasts of its co..

UK consumer confidence 'stuck in doldrums', says survey

GfK’s main index fell back to -9 in the month, down from -7 in March
Measures of UK consumer confidence fell back in April, raising further doubts over the mettle of British shoppers and their ability to support growth in the wider economy.
Read more UK consumer confidence boosted by wage growth and Brexit progress UK consumer confidence drops to lowest level since Brexit result UK consumer confidence slips back in October ​GfK reported on Friday that its main index fell back to -9 in the month, down from -7 in March.
There was also an eye-catching fall in the measure of the public’s expectations for their personal financial situation over the next 12 months, which fell from 10 to 4, suggesting people are feeling less confident, despite the decline in inflation and wages that the Bank of England expects to underpin spending.
“Hope springs eternal for better numbers but the continued uncertain economic forecast means that the sun is not yet shining brightly for UK consumers,” said..

Microsoft posts better than expected financial results as revenue grows 16% in a year

CEO says results vindicate focus on cloud products
Microsoft reported steady growth in its latest round of financial results as the company's chief executive praised the performance of its cloud services.
The technology giant reported revenue of $26.8bn (£19.2bn), a 16 per cent increase on the same quarter last year.
The company's net income also rose 35 per cent to $7.4bn (£5.3bn).
Read more Microsoft women filed 238 discrimination and harassment complaints Tech Giants Amazon, Microsoft, Google and IBM Keep Their Heads in the Cloud Windows tool shows how much of your personal data Microsoft collects Chief executive Satya Nadella, who has overseen a shift in the firm's focus away from hardware such as smartphones and towards its software and cloud products such as Office 365, said the results reflected industry faith in the move.
“Our results this quarter reflect the trust people and organisations are placing in the Microsoft Cloud,” he said.
“We are innovating a..

Microsoft’s Cloud Has Business Booming Again

Microsoft’s Cloud Has Business Booming Again
Microsoft, more than any other traditional software company, has swiftly and profitably made the shift to delivering software as an internet service.
The technology giant reinforced how well is has made that transition on Thursday, when it reported strong gains in both profits and sales in its fiscal third quarter, led by the rapid growth of its cloud software business.
The company’s net income rose 35 percent from a year earlier, to $7.4 billion. Revenue rose 16 percent to $26.8 billion in the quarter, exceeding the Wall Street consensus forecast of nearly $25.8 billion.
Microsoft’s earnings per share increased 36 percent to 95 cents a share, well above the analysts’ average estimate of 85 cents a share, compiled by Thomson Reuters.


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Since Satya Nadella became chief executive in 2014, the cloud portion of Microsoft’s revenue has soared from 3 percent to more than 21 percent this year, accord..

Amazon's revenue surges by 43 per cent pushing shares to record high

Company has become a recurring target for Donald Trump
Amazon’s profits surged past Wall Street predictions for the first quarter of 2018, pushing company shares to an all-time high.
The company’s revenue grew 43 per cent year over year to $51bn (£36.6bn), a figure that includes its earnings from acquiring upscale grocery chain Whole Foods and exceeded projections. Earnings per share came in at $3.27 (£2.3bn), outpacing analysts’ estimates of roughly $1.26 (£0.9bn).
Its cloud-computing unit Amazon Web Services also posted strong gains, registering a 49 per cent in sales over the previous year and generating some $1.4 bn (£1bn) in operating income. CEO Jeff Bezos who said the numbers vindicated a longstanding focus on the service.
Read more Amazon will now deliver packages to the boot of your car Amazon forces people to buy James Comey book if they want to review it Amazon Prime has passed the 100 million customer mark, says Jeff Bezos “AWS had the unusual advantage of a seven-yea..


  As the rascality and untamed decimation spree of the monstrous Fulani killer herdsmen (terrorists) assumes a disastrous dimension in Nigeria, it becomes indisputably necessary for all inhabitants to wholesomely support the call of the Indigenous People of Biafra (IPOB) worldwide, for the total dissolution and disintegration of Nigeria. A common Igbo proverb says: “if…

U.S Releases Damning Human Rights Report On Nigeria Under Buhari 10 days Before Talks With Trump

  Washington D.C. – The United States government on Friday released a damning human rights report on Nigeria, saying grave violations continued to increase in 2017 while officials who perpetrated them were almost never prosecuted by the administration of President Muhammadu Buhari.   Why it matters: President Buhari is scheduled to meet with President Donald Trump…