Amazon posts strong earnings, Walgreens struggles

Amazon posts strong first quarter results

Amazon’s cloud business was again the star of the show as the company reported stronger-than-predicted first quarter results Tuesday. Total revenue for the quarter was just over $143 billion, with AWS representing $25 billion of that. AWS has an impressive 37.6% profit margin, about $9.4 billion. The company’s advertising business is also soaring, with $11.8 billion in revenue, a 24% jump over this time last year.

Walgreens continues to struggle

Shares in the drug store chain were down 18% in April, nearing the lowest levels in 26 years. Slowed consumer spending and news that the company owes the IRS $2.7 billion in unpaid taxes hit the share price hard. Walgreens employs 315,000 people and has had significant turnover in its executive ranks after Roz Brewer stepped down from the CEO position eight months ago.

FAFSA applications still lagging

A technical glitch has caused chaos for students preparing the Free Application for Federal Student Aid (FAFSA) this year. Only 8.4 million students have applied, compared to 17 million in typical years, and the Department of Education is rushing to try to get the word out to students who haven’t applied. The deadline to apply is June 30.