Market Overview

Amazon Reports Q1 Earnings Beat, Web Services Revenue Grows 41%

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Amazon Reports Q1 Earnings Beat, Web Services Revenue Grows 41%

Amazon.com, Inc. (NASDAQ: AMZN) shares ticked modestly higher after posting a first-quarter earnings beat.

Earnings came in at $7.09, which may not compare to the $4.72 estimate. Sales came in at $59.7 billion, beating estimates by $40 million.

The e-commerce giant sees second-quarter sales of $59.5 billion-$63.5 billion, with operating income of $2.6 billion-$3.6 billion.

Highlights

  • Net sales increased 17 percent
  • Amazon Web Services revenue grew 41 percent
  • Amazon Fire TV has 30 million active users
  • Amazon Studios greenlit more than 20 new and returning original series

Amazon's stock closed Thursday at $1,902.25 per share. The stock was modestly higher in after-hours trading.

Related Links:

Cowen Dives Into Amazon's Home Business, E-Commerce, Advertising Ecosystem

Amazon Wins Another Bull After KeyBanc Upgrades Stock

Posted-In: Jeff BezosEarnings News Guidance Top Stories After-Hours Center Best of Benzinga

 

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