‘If you’re a shareowner in Amazon, you may want to take a seat’ — Amazon reports earnings, plans to spend all Q2 profits on coronavirus resp…

‘If you’re a shareowner in Amazon, you may want to take a seat’ — Amazon reports earnings, plans to spend all Q2 profits on coronavirus resp…
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Amazon reported its first-quarter earnings after the bell on Thursday, revealing the pandemic’s impact on the business that has been a rare bright spot on the stock market. The stock fell about 5% after hours after missing estimates on earnings while beating revenue expectations.

Here’s what Amazon reported:

  • Earnings per share (EPS): $5.01
  • Revenue: $75.45 billion
  • Amazon Web Services (AWS) revenue: $10.22 billion 

Wall Street had been anticipating earnings per share of $6.25 on revenue of $73.61 billion, based on Refinitiv consensus estimates. Amazon Web Services revenue was expected to come in at $10.33 billion, based on FactSet estimates. However, it’s difficult to compare reported earnings to analyst estimates for Amazon’s first quarter, as the coronavirus pandemic continues to hit…



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