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Amazon beats earning forecast
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Amazon beats earning forecast

Amazon's Q1 earnings exceeded expectations, driven by growth in its cloud and advertising sectors. The company's shares rose by 8% in after-hours trading following the announcement. Q1 revenue amounted to $127.4 billion, with earnings per share of $0.31, surpassing estimates of $124.55B in revenue and $0.21 per share. Sales in North America increased by 11% to $76.88B from the previous year. Meanwhile, Amazon Web Services, the company's cloud revenue segment, grew by 16%, generating $21.35B in revenue. Advertising revenue also saw a year-on-year increase, rising from $7.9B to $9.5B. Looking ahead, Amazon expects Q2 revenue to range from $127.0B to $133B, with operating income projected at $2.0B to $5.5B, aligning with market estimates for revenue of $129.9B.

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