Time to Buy Amazon (AMZN) Stock After AWS Fuels Strong Q1 Results [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
Last amazon.com, inc. earnings: 4/30 04:01 pm
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Source: Yahoo! Finance
As part of the “Magnificent Seven”, Amazon has continued to lift the market's performance in recent years with AMZN now up +18% year to date. That said, let's review Amazon's Q1 results and see why now may still be a good time to buy stock in the e-commerce behemoth Image Source: Zacks Investment Research Q1 Review & Cloud Growth Amazon's AWS cloud computing segment fueled its strong Q1 results driven by growth in generative AI and non-generative AI workloads across various industries. First quarter sales increased 12% to $143.3 billion and came in slightly above estimates of $142.52 billion. AWS contributed $25 billion to the top line, beating estimates by 3% and increasing 17% year over year as Amazon remains the domestic cloud leader ahead of Microsoft's (MSFT ) Azure and Alphabet's (GOOGL ) Google Cloud. Image Source: Zacks Investment Research More importantly, Amazon's operating income skyrocketed 221% to 15.3 billion. This led to earnings of $1.13 per share which beat
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AMZN
Earnings
- 4/30/24 - Beat
AMZN
Sec Filings
- 5/15/24 - Form 144
- 5/14/24 - Form 8-K
- 5/14/24 - Form PX14A6G
- AMZN's page on the SEC website