Advertisement
Canada markets open in 35 minutes
  • S&P/TSX

    22,107.08
    +194.56 (+0.89%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CAD/USD

    0.7369
    -0.0004 (-0.05%)
     
  • CRUDE OIL

    82.72
    +1.37 (+1.68%)
     
  • Bitcoin CAD

    95,652.41
    +508.12 (+0.53%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,226.70
    +14.00 (+0.63%)
     
  • RUSSELL 2000

    2,114.35
    +44.19 (+2.13%)
     
  • 10-Yr Bond

    4.2180
    +0.0220 (+0.52%)
     
  • NASDAQ futures

    18,479.50
    -24.25 (-0.13%)
     
  • VOLATILITY

    12.99
    +0.21 (+1.64%)
     
  • FTSE

    7,954.43
    +22.45 (+0.28%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • CAD/EUR

    0.6822
    +0.0017 (+0.25%)
     

Amazon crushed its earnings

Jeff Bezos
Jeff Bezos

(Amazon CEO Jeff Bezos.Michael Seto/Business Insider)

Amazon announced its first-quarter financial results on Thursday, and it blew by what Wall Street was looking for.

The stock was up about 4% in after-hours trading following the report.

Here were the key numbers:

  • Revenue of $35.71 billion, versus Wall Street estimates of $35.3 billion. A nice beat. This was $29.1 billion a year ago.

  • EPS of $1.48, versus estimates of $1.13 per share, non-GAAP. This compares with non-GAAP EPS of $1.07 per share a year ago. A big beat as well.

Analysts were also closely watching the performance of Amazon's cloud computing unit, Amazon Web Services.

ADVERTISEMENT

AWS reported $3.66 billion in revenue and 43% growth, which beat the analyst consensus of $3.65 billion in revenue and 42% growth. Last quarter, AWS didn't grow quite as fast as people had expected.

Even though it beat predictions, AWS growth still slowed down. In the previous three quarters, AWS experienced 47%, 55%, and 58% growth.

Other key stats:

  • Overall, first-quarter sales were up 23%.

  • Retail subscription services, which is mostly Amazon Prime but includes a few other things, like music, hit $1.94 billion, up 49% year-over-year.

Next quarter, Amazon expects sales of between $35.25 billion and $37.75 billion, or to grow by between 16% and 24% compared with Q2 2016.

This factors in $720 million of headwinds from foreign-exchange rates, the company says. That's right in line with what the Street is looking for, with analysts expecting $36.84 billion.

Here's the full Amazon press release.

NOW WATCH: Animated map of what Earth would look like if all the ice melted



More From Business Insider