Breaking News: Amazon Stock Soars After Record-Breaking Earnings Report
Update: April 26, 7:59:57 PM GMT-4
Amazon stock soared to $3,430 per share at the close of trading on Nasdaq on Tuesday, April 26, 2024, reaching a new all-time high.
The surge in Amazon's stock price is a direct result of the company's record-breaking earnings report, which was released after the market closed on Monday. Amazon reported revenue of $149.2 billion for the first quarter of 2024, a 24% increase from the same period last year. The company also reported a net income of $11.6 billion, a 50% increase from the first quarter of 2023.
Amazon's strong earnings report was driven by a number of factors, including continued growth in its e-commerce business, the success of its cloud computing platform AWS, and its expansion into new markets.
Comments