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Amazon triples quarterly profit as cloud and ads grow

Amazon Fresh truck. Source: — SounderBruce, CC SA 2.0.
Amazon Fresh truck. Source: — SounderBruce, CC SA 2.0.

E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived.

The Seattle-based company reported $10.4 billion in profit on revenue of $143.3 billion compared with a profit of $3.2 billion on $127.4 billion in sales in the same period a year earlier.

Amazone shares were up more than 3 percent in after-market trades that followed release of the earnings figures.

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