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Amazon Stock Pops As Q1 Earnings Crush Estimates

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Amazon (AMZN - Free Report) just released its first quarter financial results, posting adjusted earnings of $3.27 per share and revenues of $51.04 billion.

Amazon is currently a Zacks Rank #1 (Strong Buy), which is subject to change based on today’s results. Shares of Amazon are up 60% over the last year. The company also saw its stock price pop 3.96% on Thursday to hit $1,517.96 per share prior to the release of its first quarter earnings results.

Amazon stock is currently up 6.52% to $1,617 per share in after-hours trading shortly after its earnings report was released.

AMZN:

Beat earnings estimates. The company posted adjusted earnings of $3.27 per share, crushing the Zacks Consensus Estimate of $1.22 per share.

Beat revenue estimates. The company saw revenue figures of $51.04 billion, topping our consensus estimate of $50.17 billion.

Amazon’s Q1 revenues jumped roughly 43% from $35.71 billion in the year-ago period. Meanwhile, the e-commerce giant’s quarterly earnings skyrocketed from $1.48 per share.

Looking ahead to the second quarter, Amazon expects to report revenues between $51 billion and $54 billion. Investors should note that the top of this guidance is above our current Q2 estimate of $52.43 billion.

Here’s a graph that looks at AMZN’s Price, Consensus and EPS Surprise history:

Amazon.com, Inc. Price, Consensus and EPS Surprise

Amazon.com, Inc. Price, Consensus and EPS Surprise | Amazon.com, Inc. Quote

Check back later for our full analysis on AMZN’s earnings report!

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