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    Amazon’s profit more than doubles on cloud computing, ad biz growth

    By SHOOTUpdated:No Comments1910 Views
    In this Feb. 14, 2019 file photo, people stand in the lobby for Amazon offices in New York. Amazon.com Inc. reports earns on Thursday, April 25. (AP Photo/Mark Lennihan, File)

    By Joseph Pisani, Retail Writer

    NEW YORK (AP) --

    Amazon's push into advertising and cloud computing is paying off, helping the online shopping giant's first quarter profit more than double from a year ago.

    The Seattle-based company on Thursday reported net income of $3.56 billion, or $7.09 per share, for the first three months of the year.

    That beat expectations of $4.61 per share, according to Zacks Investment Research. In the same time a year ago, it reported net income of $1.63 billion, or $3.27 per share.

    Revenue rose 17% to $59.7 billion, which also beat Wall Street expectations.

    At its cloud computing business, called Amazon Web Services, revenue soared 41%.

    The company doesn't say exactly how much its advertising business makes. Instead it lists it as part of its "other" revenue, which jumped 34% from a year ago.

    For the current quarter ending in July, Amazon said it expects revenue in the range of $59.5 billion to $63.5 billion. Analysts expected revenue of $62.53 billion.

    Shares of Amazon.com Inc., which are up 27% so far this year, rose 1.6% to $1,933 in after-hours trading Thursday.

    Elements of this story were generated by Automated Insights using data from Zacks Investment Research. 

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    Tags:Amazon



    Hollywood meets the Middle East as Red Sea International Film Festival opens in Jeddah

    Thursday, December 4, 2025
    Queen Latifah arrives for the opening of the Red Sea International Film Festival in Jeddah, Saudi Arabia, Thursday, Dec. 4, 2025. (AP Photo/Amr Nabil)

    The fifth edition of the Red Sea International Film Festival, one of the Middle East's largest film festivals, opened Thursday in the coastal city of Jeddah, marking a significant moment for the kingdom's growing film industry.

    Running from Dec. 4 to 13, the Red Sea International Film Festival brings together filmmakers and talent from around the world, screening more than 100 films from over 70 countries.

    The festival's prestigious "Red Sea: Competition" strand features a selection of 16 narrative features, animations and documentaries from the Arab world, Asia and Africa, all vying for the top honor: the Yusr Awards, which will be presented at the closing ceremony.

    The festival takes place in Jeddah's Al-Balad district — a UNESCO World Heritage site — blending Saudi heritage with international cinema.

    This year, the selection jury is being led by the Academy Award-winning filmmaker Sean Baker, best known for "Anora," which won five Oscars, four of which went to Sean Baker himself.

    "This festival is really exciting because of how big it's become just in the last five years," Baker said. "It's rare that I see a festival just exploding in terms of importance and impact on world cinema."

    The festival opens with "Giant," a true story of legendary British-Yemeni boxing champion Prince Naseem 'Naz' Hamed. The film stars Egyptian-British actor Amir El-Masry as Hamed and Pierce Brosnan as his Irish trainer, Brendan Ingle, and is directed by British filmmaker Rowan Athale.

    "It was probably one of the hardest roles I've ever done," El-Masry said, noting that his preparation involved four and a half weeks of training, during which he lost about eight kilos.

    "It's been a passion project for me for a long time," said... Read More

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