Amazon triples quarterly profit as cloud surges [Video]

E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived.

Amazon shares were up more than 3 percent in after-market trades that followed release of the earnings figures, with Wall Street keeping a close eye on the impact of AI.

“It was a good start to the year across the business,” Amazon chief executive Andy Jassy said in an earnings release.

The Seattle-based company reported $10.4 billion in profit on revenue of $143.3 billion compared with a profit of $3.2 billion on $127.4 billion in sales in the same period a year earlier.

“Amazon opens its new fiscal year with a robust …