Amazon's Q1 earnings beat estimates, strong growth in AWS and ad business, positive momentum.

From Nasdaq: 2024-05-30 11:31:03

Amazon’s Q1 earnings beat estimates with earnings per share of 98 cents and net sales of $143.31 billion. AWS segment and advertising business showed strong growth. Operating income for AWS was $9.4 billion. International revenues reached $31.9 billion, while North America revenues totaled $86.3 billion. Cash flow from operations was $18.99 billion.

For Q2 2024, Amazon forecasts net sales between $144 billion and $149 billion with operating income of $10 – $14 billion. Estimates have been moving upward with a consensus estimate change of 9.18%. Amazon holds a Zacks Rank #3 and VGM Scores of A, indicating positive momentum and growth potential.

Research Chief Names “Single Best Pick to Double” for investors looking for explosive upside potential. This company targeting millennial and Gen Z audiences generated $1 billion in revenue last quarter. With estimates trending upward and a Zacks Rank of #3, Amazon expects an in-line return in the coming months.



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