by Deborah Mary Sophia and Greg Bensinger

(Reuters) – Amazon.com reported Thursday about growth in turnover of its dematerialized computer division (“Cloud”) and an operating result lower than estimates in the first quarter, which disappointed investors.

The group’s title has lost up to 5% in post-closing stock exchange, before moderating its losses.

The Amazon Web Services (AWS) cloud division recorded an increase in turnover from 16.9% to 29.27 billion dollars in the first quarter, while analysts anticipated an average of 30.9 billion. AWS’s turnover has increased at its slowest rate in five quarters.

His Rival Microsoft announced on Wednesday that it had beaten the estimates for its cloud activity, Azure.

The important customs duties imposed by US President Donald Trump on products imported from China create uncertainty around companies like Amazon, while some sellers have already declared that they would not participate in the “Prime Day”, a promotions day scheduled for July.

The group said it expects its operating profit to the current quarter is between $ 13 and $ 17.5 billion, against an average estimate of $ 17.7 billion, according to LSEG data.

Amazon’s managing director Andy Jassy tried to appease fears about customs duties, which should increase prices in the coming months, during a call conference with analysts.

“We have not yet found a drop in demand,” he said. “We have found an increase in purchases in certain categories, which could indicate the constitution of stocks in anticipation of a possible impact of customs duties.”

Amazon reported a turnover of 155.7 billion dollars for the closed quarter on March 31, while analysts awaited $ 155.04 billion, according to LSEG data.

The company provides for net turnover between $ 159 and $ 164 billion for the second quarter, against an average estimate of $ 160.91 billion, according to LSEG data.

( Camille Raynaud)

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