Todd Spangler NY Digital Editor Amazon, in the midst of paring back its workforce, topped Wall Street forecasts with better-than-expected revenue growth for the first quarter of 2023.
The company reported Q1 revenue of $127.4 billion, up 9% year over year, improving over a 7% rise in the year-earlier quarter but still off its historical pace of top-line growth.
Net income was $3.2 billion, or 31 cents per share, compared with a net loss of $3.8 billion in Q1 2022 (which included a $7.8 billion loss on its stake in electric-vehicle maker Rivian).
The results come as the ecommerce colossus is in the middle of laying off 9,000 workers, on top of the 18,000 job cuts announced in January.
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