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Why Amazon is the 'perfect' moneymaking machine By Julia Horowitz, CNN Business Published May 1, 2021 7:05:53 AM enablePagination: false (FILE PHOTO) (CNN) — Throughout the pandemic, Amazon has had no trouble generating huge returns. Once the Covid-19 crisis passes, it's in great shape to make even more money. What's happening: The internet giant's profits more than tripled to $8.1 billion in the first three months of 2021. Shares, which are near an all-time high, are up 2% in premarket trading. "Amazon has the almost perfect business for the world right now," said James Harris, global ch...

On retail: Demand for online shopping doesn’t appear to be slowing, with revenue from Amazon’s consumer business growing 39% in North America last quarter and 50% internationally. Amazon now has more than 200 million paying subscribers to its Prime service worldwide. They’re streaming more videos, and are set up to deliver the company another windfall during its Prime Day promotional event later this quarter. On cloud: Amazon Web Services, which provides cloud computing services, posted net sales of $13.5 billion during the quarter, up 32% year-over-year. And as more companies tap the...

Netflix shares fall 11% as pandemic hurts subscriber growth in Q1 File pic Shares of Netflix sunk 11percent in after-hours trading to $489.28, wiping $25 billion off the company's market capitalization. Its stock has risen 27 percent over the past 12 months compared with a 63 percent increase in the tech-heavy Nasdaq Composite Index. Wall Street rebounded on Wednesday after a two-day decline in a broad rally as a tilt toward stocks poised to benefit from a recovering economy offset Netflix Inc’s sell-off after its disappointing results a day earlier, Reuters said. Netflix Inc said slow...

By Lisa Richwine and Chavi Mehta April 20 (Reuters) - Netflix Inc said slower production of TV shows and movies during the pandemic hurt subscriber growth in the first quarter, sending shares of the world's largest streaming service down 11% on Tuesday. Roughly 3.98 million people signed up for Netflix from January through March, below the 6.25 million average projection of analysts surveyed by Refinitiv. Netflix estimated it will add just 1 million new streaming customers in the second quarter. Analysts had expected a forecast of nearly 4.8 million. Shares of Netflix sunk 11% in after-hours ...

Netflix Subscriber Growth Slows After Pandemic Boom: Here’s Why Netflix estimated it will add just 1 million new streaming customers in the second quarter. By Reuters | Updated: 21 April 2021 10:53 IST Netflix added a record 15.8 million customers as the pandemic forced people around the world to stay home Highlights Analysts project people will spend less time streaming content Netflix's share of new US subscribers fell to 8.5 percent during quarter Netflix said slower production of TV shows and movies during the pandemic hurt subscriber growth in the fir...