Should Amazon Get More Credit For Q1 Earnings?
Amazon reported first-quarter financial results after markets closed Thursday.
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Amazon.com Inc. (NASDAQ: AMZN | AMZN Price Prediction) reported first-quarter financial results after markets closed Thursday. The company posted $7.09 in earnings per share (EPS) on $59.7 billion in revenue, which compares with consensus estimates from Thomson Reuters that called for $4.72 in EPS on $59.65 billion in revenue. In the same period of last year, the company reported $3.27 in EPS on $51.04 billion in revenue.
During the most recent quarter, Amazon Web Services (AWS) revenues increased 41% to $7.70 billion, up from $5.44 billion in the same period last year, with operating income of $2.22 billion.
In terms of its other segments Amazon reported:
- North American net sales increased 16.6% to $35.81 billion, with operating income of $2.29 billion.
- International sales increased 8.9% to $16.19 billion, with an operating loss of $90 million.
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As for guidance, the company expects to see net sales in the range of $59.5 billion to $63.5 billion, with operating income of $2.6 billion to $3.6 billion in the second quarter. The consensus estimates call for $6.32 in EPS on $62.37 billion in revenue for the quarter.
Shares of Amazon closed Thursday at $1,902.25, with a consensus analyst price target of $2,080.14 and a 52-week range of $1,307.00 to $2,050.50. Following the announcement, the stock was relatively flat initially at $1,915.00 in the after-hours session.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
