Amazon (AMZN) Q1 earnings report 2023


Amazon shares jump as cloud, advertising units drive revenue beat

Amazon reported better-than-expected revenue on Thursday, but the stock’s initial pop was wiped out after executives raised concerns of ongoing weakness in cloud growth.

Here are the key numbers:

  • Earnings: 31 cents per share
  • Revenue: $127.4 billion vs $124.5 billion expected, according to analysts surveyed by Refinitiv

It’s not immediately clear if the reported earnings are comparable to the Refinitiv analyst estimate of 21 cents per share.

Here’s how other key Amazon segments did during the quarter:

  • Amazon Web Services: $21.3 billion vs. $21.22 billion expected, according to StreetAccount
  • Advertising: $9.5 billion vs. $9.1 billion expected, according to StreetAccount

Sales at AWS rose about…

Source cnbc.com

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