Amazon triples quarterly profit as cloud surges

E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived. Amazon shares were up about 1% in after-market trades that followed the release of the earnings figures, with Wall Street keeping a close eye on the impact of AI as well as the costs involved. "It was a good start to the year across the business," Amazon chief executive Andy Jassy said in an earnings release.