While Amazon’s financials grew year over year, the company experienced its slowest growth quarter since 2015, according to CNBC.
Amazon’s net sales spiked 17 percent to $59.7 billion in the first quarter. This compares to the 46 percent growth that happened in the first quarter in 2018 when sales hit $51 billion. Amazon’s operating income increased to $3.6 billion in the first quarter compared to $1.6 billion in 2018.
The company’s cloud service maintained solid growth, with sales surging 41 percent year over year. However, in 2018 Amazon’s cloud services saw a 49 percent growth rate, CNBC reports.
For the second quarter, Amazon expects net sales to be between $59.5 billion and $63.5 billion, growing 13 percent to 20 percent.
To access the complete financial report, click here.
More articles about health IT:
Baystate Health hit with class-action suit after phishing attack exposed 12,000 patients
NYC lab director fired after raising concerns about DNA test methods wins $1M settlement
Robotic catheter autonomously navigates a beating heart
