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Will Solid AWS Momentum Aid Amazon's (AMZN) Q1 Earnings? [Yahoo! Finance]
Last amazon.com, inc. earnings: 4/30 04:01 pm
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US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml%3fc%3d97664%26p%3dirol-irhome
The company is expected to have continued gaining from the solid momentum in the rapidly growing cloud market on the back of its cloud computing division, Amazon Web Services (“AWS”). We note that the growing popularity and the strong adoption of AWS have been aiding Amazon in generating high margins from the cloud business. The trend is expected to have continued in the yet-to-be-reported quarter. AWS's revenues were $24.2 billion in fourth-quarter 2023, accounting for 14% of net sales, rising 13% year over year. An expanding customer base, owing to a robust AWS portfolio, is likely to have driven AWS's top line in the quarter under review. The Zacks Consensus Estimate for first-quarter 2024 AWS net sales is pegged at $24.26 billion, indicating an improvement of 13.6% from the year-ago quarter's reported figure. Click here to find out how the company's overall first-quarter performance is expected to have been. Amazon.com, Inc. Price and Consensus Amazon.com, Inc. pric
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