‘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…
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…