In early after-hours action the stock is up $8.07 (+7.35%) at $117.89.
Here's a condensed report from ZeroHedge:
....So with all that in mind, here is what Amazon just reported for its just concluded quarter
- Q1 EPS 31c,up from a 38c loss YoY, and beating the estimate of $0.21
- Q1 Net sales $127.358 billion, +9.4% y/y, beating the estimate of $124.7 billion
- Online stores net sales $51.10 billion vs. $51.13 billion y/y, beating estimate $50.57 billion
- Physical Stores net sales $4.90 billion, +6.6% y/y, beating estimate $4.77 billion
- Third- Party Seller Services net sales $29.82 billion, +18% y/y, beating estimate $28.7 billion
- Subscription Services net sales $9.66 billion, +15% y/y, estimate $9.29 billion
- North America net sales $76.88 billion, +11% y/y, beating estimate $75.54 billion
- International net sales $29.12 billion, +1.3% y/y, beating estimate $27.65 billion
- Third-party seller services net sales excluding F/X +20% vs. +9% y/y, beating estimate +13.9%
- Subscription services net sales excluding F/X +17% vs. +13% y/y, beating estimate +11.8%
- And the most important one: AWS net sales $21.35 billion, +16% y/y, beating estimate $21.03 billion
- Amazon Web Services net sales excluding F/X +16% vs. +37% y/y, estimate +13.8%
- Operating income $4.77 billion, +30% y/y, beating the estimate $3 billion
- Operating margin 3.7% vs. 3.2% y/y, beating the estimate 2.38%
- North America operating margin +1.2% vs. -2.3% y/y, beating the estimate +0.34%
- International operating margin -4.3% vs. -4.5% y/y, beating estimate -8.49%
- Fulfillment expense $20.91 billion, +3.1% y/y, beating estimate $20.72 billion
- Seller unit mix 59% vs. 55% y/y, estimate 56.8%
Bottom line here, Amazon beats expectations for Q1 across the board, and most importantly AWS came in well above expectations on both revenue growth and profit margin basis, which is why AMZN stock is seeing a buying frenzy after hours pushing it more than 10% higher.
There is another reason for the surge: the company's Q2 guidance was stellar:
- Sees net sales $127.0 billion to $133.0 billion, in line with the sellside estimate $130.1 billion; this represents growth between 5% and 10% compared with Q2 2022 and "anticipates an unfavorable impact of approximately 30 basis points from foreign exchange rates.”
- Sees operating income $2 to $5.5 billion, estimate $4.74 billion
In short, solid earnings beating expectations across the board, while guidance came generally in line with Wall Street expectations....
....MUCH MORE
And additional commentary by The Go-Go's
