Amazon beats by $0.14, reports revs in-line; guides Q2 revs below consensus (175.00 -5.96)
- Reports Q1 (Mar) earnings of $0.98 per share, $0.14 better than the FactSet Consensus of $0.84; revenues rose 12.5% year/year to $143.31 bln vs the $142.65 bln FactSet Consensus.
- Q1 operating income rose 221% yr/yr to $15.31 bln vs prior guidance of $8-12 bln.
- AWS segment sales rose 17.2% yr/yr, or +17% CC to $25.04 bln. This compares to +13% CC in Q4, +12% CC in Q3, +12% CC in Q2, +16% CC in Q1.
- Advertising Services segment revenue grew +24% CC (constant currency) to $11.82 bln. This compares to +26% CC in Q4, +25% CC in Q3, +22% CC in Q2, +23% CC in Q1 and +23% CC in Q4.
- Co issues downside guidance for Q2, sees Q2 revs of $144-149 bln vs. $150.2 bln FactSet Consensus. Co guides to Q2 operating income of $10-14 bln.
- "It was a good start to the year across the business, and you can see that in both our customer experience improvements and financial results," said Andy Jassy, Amazon President and CEO. "The combination of companies renewing their infrastructure modernization efforts and the appeal of AWS's AI capabilities is reaccelerating AWS's growth rate (now at a $100 billion annual revenue run rate); our Stores business continues to expand selection, provide everyday low prices, and accelerate delivery speed (setting another record on speed for Prime customers in Q1) while lowering our cost to serve; and, our Advertising efforts continue to benefit from the growth of our Stores and Prime Video businesses. It's very early days in all of our businesses and we remain excited by how much more we can make customers' lives better and easier moving forward."