SAN FRANCISCO, California — Amazon reported a 9-percent rise in first-quarter revenue on Thursday, but its outlook fell below expectations as potential impact from the US-China trade war rattled investors.
The online retail behemoth said sales hit $155.7 billion in the January-to-March period, but its share price dropped as much as 4 percent in after-hours trading on Wall Street. Amazon Web Services, the company's hugely successful cloud business, saw sales jump 17 percent to $29.3 billion, but the gain was slightly below expectations.
The outlook is especially sensitive for investors with speculation high on how the wave of high trade tariffs announced by President Donald Trump's administration will affect Amazon's performance. Trump has most notably slapped 145-percent levies on China, where many US-bound products are made, though he as given exceptions on electronics and other items for now.
Reports 9% Rise In First Quarter Revenue
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Angel Habacon, Janelle Bachar link up as San Beda repulses San Sebastian for first winAngel Habacon and Janelle Bachar formed a lethal duo to carry San Beda University to a 21-25, 25-23, 25-16, 25-13 win against San Sebastian College-Recoletos for their breakthrough win in the NCAA Season 100 women&39;s volleyball on Sunday at the Filoil EcoOil Centre.
Read more »
Resurgent San Sebastian rides Kyle Villamor's heroics anew to beat San BedaKyle Villamor picked up where he left off to power the resurgent San Sebastian College-Recoletos to a 25-23, 25-18, 17-25, 25-19 win over San Beda University in the NCAA Season 100 men&39;s volleyball tournament.
Read more »
Ex-VP Harris says Trump's America is 'self-serving'SAN FRANCISCO, California — Former US vice president Kamala Harris hit out at Donald Trump and his backers on Wednesday, in her first major speech since losing November's election.
Read more »
Apple expects $900M tariff hit, US iPhone supply shifts to IndiaSAN FRANCISCO, California — Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and were disrupting its supply chain.
Read more »
Apple's Q1 profit exceeds expectationsSAN FRANCISCO, California — Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and were disrupting its supply chain.
Read more »
TikTok tests letting users add informative 'Footnotes'SAN FRANCISCO, California — TikTok on Wednesday said it is testing a feature that would let people add 'Footnotes' providing informative context to videos that might be misleading.
Read more »