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.
Category
🗞
NewsTranscript
00:00 It's Benzinga and here's what's on the block.
00:02 Amazon reported first quarter earnings that topped Wall Street estimates on revenue and
00:06 earnings per share, sending shares up 2% pre-market.
00:10 Amazon is investing heavily in AI through its cloud business to gain an edge in this
00:14 market.
00:15 Advertising also grew 24% and matched estimates.
00:18 Management sees customers being thoughtful spenders in the U.S. and trading down.
00:22 Guidance for the second quarter sales was slightly below estimates.
00:25 For all things money, visit Benzinga.com.
00:27 (bubble popping)