Amazon's

First Quarter Earnings Exceed Expectations

  Amazon's First Quarter Earnings Exceed Expectations Amazon  ( AMZN (NasdaqGS) $3,471.31 +12.81(+0.37%), announced its first quarter 2021 results on Thursday. The company's quarterly revenue exceeded $ 100 billion, reporting a better-than-expected result. Compared to consensus estimates compiled by Bloomberg, the data reported by the company in its first quarter financial results are as follows: - Revenue: announced as 108,5 billion dollars, compared to an expectation of $ 104,57 billion. -Earnings per share: announced as $ 15,79, against an expectation of $ 9,69. Revenue, which was $ 75,5 billion in the same quarter of the previous year, increased by 44 % this quarter to $ 108,5 billion. Except for e-commerce, Amazon Web Services' net sales increased by 32 %  compared to a year ago, reaching $ 13,5 billion.

Amazon  ( AMZN (NasdaqGS) $3,471.31 +12.81(+0.37%), announced its first quarter 2021 results on Thursday.

CFRA analyst Tuna Amobi told Yahoo Finance Live: “Many people were wondering if the theme of staying at home was still solid, especially with the launch of the vaccine. But what this company has proven today is that many of these gains they achieve in a pandemic will potentially be permanent. I mean, there is a structural change in consumer behavior that will benefit Amazon. Not only in the e-commerce side, but also in the cloud sector. " Amazon, which recently announced that it has more than 200 million paid Prime members worldwide, will host Prime Day in the second quarter. Expecting Prime Day to set new records, Amobi stated that all the building blocks for Prime "to be a big profit center" are in place. Amobi, with a price target of $ 3,800 on Amazon stock, said the stock is likely to exceed its price target. Amazon shares were traded around $ 3,574, up nearly 3 % in the after-hours session.  

Source: Yahoo.Finance

 

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