Amazon cloud revenue, income forecast disappoint, sees quarterly sales above estimates

Amazon.com on Thursday reported lower than expected first-quarter cloud revenue growth and forecast operating income below estimates, disappointing investors. Shares of the company fell as much as 5% in after-hours trading. Amazon Web Services, the company’s cloud unit, is showing signs of weakness. Its 16.9% increase in quarterly revenue, to $29.27 billion, missed expectations of 17.4% growth and $30.9 billion in sales.