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Amazon Earnings: AMZN Stock Surges on Q1 EPS Beat, in-Line Revenue

Shares were up more than 1% after the bell

Amazon (NASDAQ:AMZN) reported its quarterly earnings results for its first three-month period of the fiscal year, reeling in earnings that came in well ahead of what Wall Street projected, while revenue was in line with expectations, lifting AMZN stock after hours Thursday.

Amazon Earnings
Source: Amazon

The Bellevue, Wash.-based e-commerce retailer said that for its first quarter of 2019, it brought in earnings of $7.09 per share, well ahead of the Wall Street consensus estimate of $4.72 per share, according to a survey of analysts conducted by Refinitiv. The company’s revenue for the period also impressed, gaining 16.9% year-over-year and meeting the Refinitiv guidance of $59.7 billion.

Amazon Web Services brought in revenue of $7.7 billion, also in line with Wall Street’s outlook, according to data compiled by FactSet. The business also saw its North American revenue increase 17% year-over-year, which paled in compared to its year-ago revenue growth of 46%.

The online retailer’s international growth was also down from the 34% it brought in during the first quarter of its 2018, only gaining 9% in this period. Amazon’s cloud service was a strong point for the brand, bringing in sales that surged 41% year-over-year, yet they still fell short of the 49% growth rate of the year-ago period.

AMZN stock is up about 1.7% after the bell thanks to the company’s positive quarterly figures. Shares had been up a fraction of a percentage during regular trading hours as Amazon geared up to report for its results.

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