- Amazon released first-quarter results on Thursday that trounced analysts' expectations.
- The company confirmed that this year's Prime Day will take place in June, which will likely help year over year comparisons for revenue in the second quarter.
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Amazon shares climbed as much as 3% in extended trading Thursday after the company released its first-quarter earnings, beating Wall Street's expectations for earnings and revenue.
Here's how the e-commerce giant fared, relative to analyst estimates compiled by Refinitiv:
- Earnings: $15.79 per share vs. $9.54 per share expected
- Revenue: $108.52 billion vs. $104.47 billion expected
Few companies have benefited from the pandemic-fueled surge of online shopping as much as Amazon. Its first-quarter results showed the company's business continues to be buoyed by the pandemic, with profits soaring 44% year-over-year to $108.5 billion.
Amazon's guidance for the second quarter implies that it expects the momentum to continue. The company expects to post revenue between $110 billion and $116 billion, surpassing Wall Street's projection $108.6 billion.
Crucially, Amazon confirmed in its guidance that this year's Prime Day will take place in June, which will likely help year-over-year comparisons for revenue in the second quarter.
This story is developing. Please check back for updates.
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