From Nasdaq: 2024-05-01 18:16:42

Amazon (NASDAQ: AMZN) stock rose 2.3% in Wednesday’s trading session. The company reported strong first-quarter results, beating analyst estimates with earnings per share of $0.98 and revenue of $143.3 billion. Quarterly revenue grew 12.5% year over year, with North America sales up 12% and AWS sales up 25%.

Despite beating expectations, Amazon stock saw a 5.8% increase before settling slightly. Q2 guidance predicts sales between $144 billion and $149 billion, falling short of analyst estimates. Operating income is expected to improve to $10-14 billion compared to $7.7 billion last year. AI-driven AWS demand continues to drive growth.

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