Pundits: Ramasamy’s anti-Pakatan campaign will chip away at KKB majority, but not enough for a Perikatan upset on May 11
Shares of the Seattle-based e-commerce and tech company climbed less than 2 per cent in extended trade after its current-quarter revenue forecast came in below expectations. The stock closed down 3.3 per cent in the regular session. First-quarter sales increased 13 per cent to US$143.3 billion, higher than the US$142.5 billion average, according to LSEG data. Net income more than tripled to US$10.4 billion in the first quarter.The company expects revenue of US$144.0 billion to US$149.0 billion for the current quarter ending June, compared with analyst consensus expectations of US$150.07 billion, according to LSEG data.
That compares with a rise in cloud-computing revenue of 31 per cent for Microsoft and 28 per cent for Alphabet for the January-to-March period. Amazon and Tesla remain the only members of the so-called Magnificent Seven tech stocks that do not offer dividends. Its shares have climbed about 15 per cent in 2024, outperforming the S&P 500’s gain of about 6 per cent.