What's Going On With Amazon Stock Wednesday?
Portfolio Pulse from Adam Eckert
Amazon.com Inc (NASDAQ:AMZN) shares rose after reporting Q1 financial results that exceeded expectations, with revenue of $143.3 billion and EPS of 98 cents. North American sales increased by 12%, International sales by 10%, and AWS sales by 17%. Operating income was $15.3 billion, and operating cash flow grew 82% year-over-year to $99.1 billion. Analysts raised price targets following the results. Amazon expects Q2 net sales between $144 billion and $149 billion, with operating income between $10 billion and $14 billion.
May 01, 2024 | 1:18 pm
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Amazon reported strong Q1 results with revenue and EPS beating estimates, leading to a positive reaction in its stock price. Analysts have raised price targets, reflecting optimism about the company's future performance.
Amazon's Q1 performance exceeded market expectations, particularly in revenue, EPS, and AWS growth. This positive financial outcome, coupled with the upward revision of price targets by multiple analysts, signals strong confidence in Amazon's ongoing and future business performance, likely leading to a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100