Amazon crushes market expectations.. 11% up after hours

[Spartan]

Amazon's first-quarter earnings on Thursday destroyed expectations across the board. It's a far sunnier report than one quarter ago, when the company missed on revenue. Amazon (AMZN) stock surged more than 11% in after-hours trading thanks to the earnings, and was still surging at the time of writing. This was Amazon's fourth-straight profitable quarter.

Revenue came in at $29.1 billion, up 28% from last year and beating expectations of $27.99 billion; earnings per share (EPS) came in at $1.07 cents, way above expectations of 58 cents. And revenue for Amazon Web Services (AWS) came to $2.57 billion, edging out estimates of $2.53 billion.

It is the latter figure that's most compelling. Amazon is crushing it in cloud-computing. AWS provides storage services to General Electric (GE), Netflix (NFLX), Instagram (FB) and Spotify, to name just a few of the major players that pay to use it. AWS revenue is up 64% from the first quarter of last year, and its operating income is up 170%. That is staggering.

AWS is also a profit machine: It accounted for 56% of the company's profit this quarter and is the most profitable business at Amazon. As analyst Jan Dawson pointed out on Twitter, AWS generated more operating income in the quarter than Amazon's entire U.S. e-commerce business, with less than one eighth the revenue.

[bhaigan]

Keka Asalu

[nandananditha]

Racha

[Rocky143]

AWS ki manchi future vundhi antav???

[bhaigan]

4 minutes ago, Rocky143 said:

AWS ki manchi future vundhi antav???

super duper future undi bhayya

 

[aragorn]

a care ama mgt a surprise ayee vuntaru oil kanna chala volatile e stock epudu meet epudu miss avathado valake teliyadu 

[Gowtham7777]

LinkedIn kudha 9% up after market