29 Apr Amazon Earnings Go Into Orbit As Streaming Hours Rise 70% Year Over Year [Deadline]
Pictured above: Amazon’s Academy Award contender, Sound of Metal.
April 29, 2020 | Amazon blew the doors off Wall Street expectations for earnings in the first quarter, helped by comparisons with a year-ago period hit by Covid-19 but also by Prime Video and other standout units.
Video streaming — sometimes a throwaway in the company’s earnings announcements — was this time a centerpiece. Founder and CEO Jeff Bezos, who is shifting to executive chairman this summer, noted that streaming has risen 70% compared with the same time a year ago. Prime Video, which has recently marked its 10th anniversary, served film or TV titles to some 175 million global members.
Read more on Deadline.