News

Amazon retail sales on the rise

May 3, 2017

Amazon shareholders are a happy bunch given shares hitting an all-time high due to healthy retail and cloud computing sales in the first quarter.

Net sales rose 23 percent, hitting $35.7 billion, according to Reuters, and the figure beat analysts' expectations of $35.3 billion.

"The core e-commerce segment remains very healthy," Colin Sebastian, an analyst at Baird Equity Research, told Reuters.