Amazon reported a significant boost in its quarterly profits, exceeding Wall Street’s revenue estimates. The company’s net income more than tripled to $8.1 billion in the first quarter, compared to $2.5 billion in the same period last year. Revenue rose 44% to $108.5 billion, surpassing analysts’ projections of $104.5 billion. The impressive results were driven by a surge in online shopping during the pandemic, as well as growth in its cloud computing and advertising businesses. Amazon’s cloud computing unit, Amazon Web Services (AWS), saw revenue increase 32% to $13.5 billion. The company’s advertising business also performed well, with revenue rising 77% to $6.9 billion. Amazon’s results highlight its ability to capitalize on the shift towards online shopping and cloud computing during the pandemic. However, the company warned that operating costs will likely increase as it continues to invest heavily in expanding its operations and logistics network.