Tech
Amazon cloud revenue, income forecast disappoint, shares slide
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Amazon.com on Thursday reported first-quarter cloud revenue growth and forecast operating income below estimates, disappointing investors.Shares of the company fell as much as 5% in after-hours trading before paring losses to about 1%.
Amazon Web Services, the company’s cloud unit, recorded a 16.9% increase in quarterly revenue, to $29.27 billion, missing expectations of 17.4% growth and $30.9 billion in sales.
Rival Microsoft, by comparison, reported on Wednesday it had exceeded estimates for its Azure cloud unit. AWS revenue grew at its slowest pace…
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