Despite strong cloud growth, Amazon shares fall on revenue shortfall and lower guidance
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Despite higher-than-expected cloud computing revenue growth, Amazon.com Inc. saw its shares fall about 7% in after-hours trading on a second-quarter revenue shortfall and lower-than-expected guidance for the current quarter.
For much of the past year, the pandemic helped Amazon.com Inc. reach new heights as more people shopped online and more businesses flocked to the cloud, and not even the easing of pandemic restrictions seemed to slow it down.
But that pandemic boost appears to be over now, even as the Delta variant threatens to send more people into relative isolation once again. The retail and cloud giant said today that its second-quarter profit jumped 50% from a year ago, to $7.8 billion, or $15.12 a share. Revenue rose 27%, to $113.1 billion, though without the benefit of positive currency exchange rates, growth was 24%.
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Private equity firms KKR and Clayton Dubilier & Rice reportedly set to acquire Cloudera
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Private equity firms KKR & Co. and Clayton Dubilier & Rice LLC are close to a deal to acquire big-data specialist Cloudera Inc., according to a report today from The Wall Street Journal.
The Journal, quoting people familiar with the matter, says that the deal could be finalized by Tuesday, presuming that talks don’t collapse at the last minute. The terms of the deal are unknown. Cloudera as of the close of trading Friday had a market capitalization of $3.78 billion.
Both KKR and Clayton Dubilier & Rice are prolific acquirers of various companies. According to Tracxn, KKR has made 150 acquisitions since being founded in 1976. Notable KKR acquisitions in the tech industry include BMC Software Inc. in a $10 billion deal in 2018, Optiv Security Inc. in 2016 and Corel Corp. in 2019. Tracxn noted that Clayton Dubilier & Rice has made 23 acquisitions across a br