May, 2016 : Amazon Beats Forecasts for the First Quarter of 2016


📅 - Amazon, a retail and cloud giant, has exceeded the forecasts for the first quarter sales for 2016. They saw a 28% increase in sales and brought in profits of $513 million during the first quarter. This was nearly double the forecast. The success came largely in part because of the AWS cloud growth experienced by the company.

Amazon is headquartered in Seattle, Washington and was founded in 1994. They have a focus on cloud and ecommerce activity. When the news of the huge profits was announced, shares of the company increased by 10% in just one hour. The share price was as high as $677.74 on Friday.
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