Amazon Reports Q1 Earnings Beat, Web Services Revenue Grows 41%

Amazon.com, Inc. AMZN shares ticked modestly higher after posting a first-quarter earnings beat.

Earnings came in at $7.09, which may not compare to the $4.72 estimate. Sales came in at $59.7 billion, beating estimates by $40 million.

The e-commerce giant sees second-quarter sales of $59.5 billion-$63.5 billion, with operating income of $2.6 billion-$3.6 billion.

Highlights

• Net sales increased 17 percent
• Amazon Web Services revenue grew 41 percent
• Amazon Fire TV has 30 million active users
• Amazon Studios greenlit more than 20 new and returning original series

Amazon's stock closed Thursday at $1,902.25 per share. The stock was modestly higher in after-hours trading.

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