Amazon records largest quarterly operating profit, boosted by AI [Video]

Amazon (NASDAQ: AMZN) has become the latest American giant to ride the artificial intelligence (AI) wave to hit new revenue levels. The e-commerce giant recorded over $140 billion in first-quarter revenue, hitting its largest quarterly operating profit.

In the first three months, Amazon’s revenue was $143.3 billion, surpassing Wall Street estimates of $142.65 billion. The retail giant’s revenue shot up 13% year-over-year while operating income surged 200% to $15.3 billion. Net income saw the highest increase, tripling from $3.17 billion to $10.4 billion.

CEO Andy Jassy attributed the company’s revenue achievements to its focus on AI, which he says has reaccelerated the growth of Amazon Web Services (AWS), the company’s cloud computing division.

AWS recorded $25 billion in revenue, surging 17% year-over-year, its fastest quarterly rise since 2022. It accounted for 62% of the retailer’s operating profits, with Jassy stating that it was on course for its biggest year yet.

“We remain very bullish …