After Strong Q1 Results Powered by Artificial Intelligence, Is Now the Time to Buy Amazon Stock? [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
Last amazon.com, inc. earnings: 4/30 04:01 pm
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Source: Yahoo! Finance
However, it was the company's commentary around artificial intelligence (AI) that should get investors most excited. An AI push If there has been one knock against Amazon recently, it's the fact the company's market-leading cloud business , Amazon Web Services (AWS), has been losing share to Microsoft 's Azure and Alphabet 's Google Cloud. And while AWS did not grow as quickly as these two competitors in the first quarter, its revenue still increased 17% year over year from a higher base to reach $25 billion. By comparison, Azure grew revenue 31%, while Google Cloud revenue climbed 28% over the same period. Importantly, AWS's revenue growth has accelerated the past two quarters. Amazon said companies' data center cost optimization initiatives are largely complete, and the focus is now turning toward generative AI. Given this increasing usage, management said its capital expenditures will increase this year to procure and build out new data centers to meet this demand. Amazon
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AMZN
Earnings
- 4/30/24 - Beat
AMZN
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- AMZN's page on the SEC website