Amazon's Q1 Earnings Soar with AWS and AI Push, Sales Hit $143.3B
May 3, 2024![Amazon's Q1 Earnings Soar with AWS and AI Push, Sales Hit $143.3B](https://cdn.brief.news/images/stories/a072dd8727271890b77d846290e6b3d5d9a2252c784461e61adfd37fb0e5db3eaa797d2a14c0e34a8359b06fd43f2ee9980988d6b26d6dbd48079c4d4421879a.png)
Amazon.com Inc. reported a significant 12% increase in sales, reaching $143.3 billion in the first quarter.
The company's operating income showed an impressive surge, up 221% to $15.3 billion.
Earnings per share exceeded expectations, coming in at $1.13 and surpassing estimates by 36%.
AWS, Amazon's cloud computing segment, generated $25 billion in sales, indicating strong demand for AI services.
Despite e-commerce growth concerns, Amazon is investing heavily, with $150 billion allocated to enhance cloud and AI capabilities.
Amazon's forward-thinking technology and strategic investments are key factors in its sustained performance and investor confidence.
Summary based on 35 sources
Get a daily email with more Tech stories
Sources
![Why Amazon Stock Jumped Today](https://cdn.brief.news/images/links/a0b55748cea1e5d236c764c131de42734e9be86490b2c0f48d4cf463029edc0d9984411b38fde363c17c5e6d5978c83326dbd8c980c506cf3a94783711d1f328.png)
Yahoo Finance • May 1, 2024
Why Amazon Stock Jumped Today![Decoding Amazon.com Inc (AMZN): A Strategic SWOT Insight](https://cdn.brief.news/images/links/a072dd8727271890b77d846290e6b3d5d9a2252c784461e61adfd37fb0e5db3eaa797d2a14c0e34a8359b06fd43f2ee9980988d6b26d6dbd48079c4d4421879a.png)
Yahoo Finance • May 2, 2024
Decoding Amazon.com Inc (AMZN): A Strategic SWOT Insight![Why Pinterest Stock Skyrocketed on Wednesday](https://cdn.brief.news/images/links/f6db0ebcb3709a5300a4b37e0945edaa44d6a777ce887e63346b3a90f4bd464de71ae474f2c4072d6281a611eeeb64c3d06b16c6a35630ca36a2f589129db670.png)
Yahoo Finance • May 1, 2024
Why Pinterest Stock Skyrocketed on Wednesday![Amazon, Pinterest rise; Starbucks, CVS Health fall, Wednesday, 5/1/2024](https://cdn.brief.news/images/links/9d3c6b83295733110358afb45cb529be00057924ca1e6b4c0b15cb4fcfd2a474529a98154863a39126d9fafb8cce9435aaf24a01e21f900aac641b30ae7fce37.jpg)
ABC News • May 1, 2024
Amazon, Pinterest rise; Starbucks, CVS Health fall, Wednesday, 5/1/2024