Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
---|
Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
---|
Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
---|
Amazon.com Inc (NASDAQ:AMZN) shares are trading higher Wednesday after the company reported better-than-expected financial results for the first quarter. Multiple analysts also raised price targets on the stock following the print.
North American sales were up 12% year-over-year, while International sales climbed 10% year-over-year. Amazon Web Services sales were up 17% year-over-year. The company noted that AWS is now a $100-billion annual revenue run rate business.
Operating income came in at $15.3 billion in the first quarter. Operating cash flow increased 82% year-over-year to $99.1 billion. Free cash flow came was $50.1 billion over the trailing 12-month period.
“The combination of companies renewing their infrastructure modernization efforts and the appeal of AWS’s AI capabilities is reaccelerating AWS’s growth rate (now at a $100 billion annual revenue run rate); our Stores business continues to expand selection, provide everyday low prices, and accelerate delivery speed (setting another record on speed for Prime customers in Q1) while lowering our cost to serve; and, our Advertising efforts continue to benefit from the growth of our Stores and Prime Video businesses,” said Andy Jassy, president and CEO of Amazon.
“It’s very early days in all of our businesses and we remain excited by how much more we can make customers’ lives better and easier moving forward.”
Outlook: Amazon expects second-quarter net sales to be between $144 billion and $149 billion versus estimates of $150.1 billion. Operating income is expected to be between $10 billion and $14 billion in the second quarter.
Check This Out: Amazon Q1 Earnings Highlights: Revenue Beat, EPS Beat, AWS Hits $100-Billion Annual Run Rate And More
Analyst Changes:
AMZN Price Action: Amazon shares were up 2.68% at $179.82 at the time of publication, according to Benzinga Pro.
Photo: courtesy of Amazon.
Posted In: AMZN