1
AMZN Stock: Key Information for Investors
Breaking News
Seattle, WA – Amazon (AMZN) shares surged 13% in after-hours trading on Thursday following the release of its highly anticipated first-quarter earnings report. The e-commerce giant beat market expectations on both revenue and earnings, driven by strong growth in its cloud computing and advertising businesses.
Stock Performance and Historical Data
AMZN stock opened at $3,232 on Friday and reached an intraday high of $3,380. The stock has gained over 15% so far this year.
Historical data shows that AMZN stock has been on a steady upward trajectory over the past several years. In 2021, the stock surged over 50% to close at an all-time high of $3,773. However, it has pulled back slightly in recent months due to concerns about rising inflation and supply chain disruptions.
Key Insights
The report released on Thursday shows that Amazon's revenue grew by 7% in the first quarter to $116.4 billion, exceeding analysts' estimates of $116 billion. The growth was driven by strong demand for Amazon Web Services (AWS), its cloud computing platform, which saw revenue increase by 37% year-over-year.
Amazon's advertising business also continued to perform well, with revenue climbing by 23% in the quarter. This growth was fueled by an increase in advertising spending by third-party sellers on Amazon's marketplace.
Despite rising costs, Amazon's operating income improved from $3.6 billion in the first quarter of 2021 to $5.4 billion in the first quarter of 2022. This was driven by the strong performance of AWS and advertising.
Amazon's earnings per share (EPS) came in at $10.89 for the quarter, beating consensus estimates of $9.65. Overall, the report was well-received by investors, who pushed the stock higher in after-hours trading.
1
Comments