(MENAFN) US online retail giant Amazon said it posts a revenue surge of 15 percent in the January-March period of 2015, driven by strong demand for cloud computing services, Arab News reported.
Revenue in the could business rose 49 percent to USD1.57 billion. Meanwhile, total revenue rose to revenue of USD22.72 billion, slightly below analyst expectations of USD22.37 billion.
"What's kept Amazon on top is they've had a relentless approach to innovation, adding 40 to 50 new services a year while still dropping prices constantly," said Forrester analyst.
For the current quarter ending in June, Amazon said it expects revenue in the range of USD20.6 billion to USD22.8 billion. Analysts surveyed by Zacks had expected revenue of USD22.24 billion.
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