Amazon’s robust first-quarter results are attributed to the performance of its cloud-computing division and the revenue generated from Prime Video advertisements.

In its Tuesday report, Amazon showcased impressive first-quarter results, driven by the growth of its cloud-computing division and the influx of advertising revenue from its Prime Video streaming service.

The e-commerce giant, headquartered in Seattle, revealed a revenue of $143.31 billion for the first quarter of this year, marking a 13% increase compared to the corresponding period last year. Net income stood at $10.43 billion, or 98 cents per share, surpassing Wall Street analysts’ expectations of 84 cents per share, as per FactSet.

Amazon CEO Andy Jassy commented, “It was a good start to the year across the business, and you can see that in both our customer experience improvements and financial results.”

Following a successful holiday shopping season with strong consumer spending bolstered by discounts and faster shipping, Amazon held another discount event in late March, just before the first quarter ended.

Despite higher prices and increased borrowing costs due to Federal Reserve interest rate hikes, U.S. consumer spending has continued to rise, sustaining robust hiring despite a slowdown in the nation’s economy during the first quarter.

Amazon’s Chief Financial Officer Brian Olsavsky highlighted that U.S. consumers are being cautious with their spending, seeking deals and opting for more affordable options, particularly noticeable in Europe where spending has decreased.

In addition to its core retail business, Amazon reported a 17% increase in first-quarter sales for its cloud computing unit, Amazon Web Services, amounting to $25.04 billion compared to the same period last year.