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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 248.32

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To: Sr K who wrote (164225)	4/29/2021 4:24:55 PM
From: Glenn Petersen	1 Recommendation Recommended By Sr K Read Replies (1) of 164684

Amazon sales surge 44% as it smashes earnings expectations PUBLISHED THU, APR 29 20213:38 PM EDT UPDATED 3 MIN AGO Annie Palmer @ANNIERPALMER CNBC.com KEY POINTS -- 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. 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. Typically, Amazon’s annual, two-day discount bonanza takes place in July, but the company postponed the event to October last year amid pandemic-related uncertainty. Outside of its core retail segment, Amazon’s cloud-computing and advertising businesses continue to boom. This story is developing. Please check back for updates. Story Link

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