Berlin The world’s largest online retailer Amazon is feeling headwind. In the first quarter, operating profit fell to $3.7 billion after $8.9 billion in the same period last year, as the US group from Seattle announced on Thursday. Currency-adjusted sales, on the other hand, increased nine percent to $116.4 billion.
For the current quarter, Amazon is reluctant in view of the global economic slowdown and fierce competition in the increasingly important cloud business (AWS) and assumes revenues of between 116 and 121 billion dollars. That was well below analysts’ expectations. The stock fell in after-hours trading.
More: Microsoft continues to benefit from its Azure cloud technology. However, investors were initially spooked by the figures presented.
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