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✓ Published: 02-May-2024
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✓ Published: 02-May-2024
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Amazon reported first-quarter earnings that topped Wall Street estimates on revenue and earnings per share, sending shares up 2% pre-market. Amazon invests heavily in AI through its cloud business to gain an edge in this market. Advertising also grew 24% and matched estimates. Management sees customers as thoughtful spenders in the US and trading down. Guidance for the second quarter sales was slightly below estimates.
Amazon reported first-quarter earnings that topped Wall Street estimates on revenue and earnings per share, sending shares up 2% pre-market. Amazon invests heavily in AI through its cloud business to gain an edge in this market. Advertising also grew 24% and matched estimates. Management sees customers as thoughtful spenders in the US and trading down. Guidance for the second quarter sales was slightly below estimates.
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