Amazon Q1 Results Beat Street as Revenue Jumps 44% By Investing.com

By Yasin Ebrahim

Invsting.com – Amazon.com reported Thursday first-quarter results that topped analysts estimates, supported by a surge e-commerce growth.  

Amazon.com (NASDAQ:AMZN) shares gained 5% in after-hours trade following the report.

Amazon reported Q1 EPS of $15.79 on revenue of $108.5 billion, beating estimates of $9.49 on revenue of $104.49 billion. 

That was above guidance for net sales of between $100.0 billion and $106.0 billion, or growth between 33% and 40% year-on-year.

Net sales in North America rose to $64.37 billion from $46.13 billion in the the prior-year period.

Amazon Web Services, its fast-growing cloud revenue segment, grew 32%, to $13.5 billion. 

Net sales in North America rose to $75.35 billion, up from $53.67 billion in the the prior-year period.

For the second-quarter, the company guided net sales of between $110 billion and $116 billion, or growth between 24% and 30% year-on-year.