- Amazon.Com, Inc (NASDAQ:AMZN) shares are trading lower Tuesday since it disclosed acquiring worldwide rights to IMAX’s original documentary The Blue Angels.
- Bad Robot, Glen Powell’s Barnstorm Productions, Zipper Bros Films, and Dolphin Entertainment, Inc (NASDAQ:DLPN) produced the project chronicling a year in the cockpit with one of the most exclusive aviator teams in the world, filmed with awe-inspiring IMAX cameras.
- A Monday report indicated Amazon launching a new unit to distribute its movies and TV shows to other media outlets besides its Prime Video streaming service.
- Amazon MGM Studios Distribution will make the programming available to rent or buy on other services and airplanes and also license the shows to foreign TV networks.
- The unit looks to tap the company’s library of 4,000 films and 17,000 TV episodes, including originals produced by its Amazon Studios division.
- Another report suggested that Amazon is offering customers $10 to pick up a purchase rather than have it shipped to a home address to slash costs for home delivery and returns amid slack consumer demand.
- Amazon reported first-quarter revenue of $127.4 billion, up 9% year-over-year. The revenue total came in ahead of a Street consensus estimate of $124.53 billion.
- The company reported earnings per share of 35 cents in the first quarter, beating a Street estimate of 21 cents.
- Price Action: AMZN shares traded higher by 0.02% at $105.85 on the last check Tuesday.
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