On April 27, local time, after the U.S. stock market closed, Amazon announced its impressive first-quarter results. Its revenue, profit and business performance exceeded expectations. According to the financial report, Amazon’s revenue in the first quarter increased by 9% year-on-year to US$127.36 billion, and its profit increased by 30% year-on-year to US$4.77 billion. Among them, the revenue of Amazon’s most important AWS cloud computing business increased by 16% year-on-year to US$21.4 billion. The growth rate has declined for five consecutive quarters, but it is still higher than the market’s expected US$21.03 billion.
Amazon, whose market value shrank by about half last year, once rose by more than 11% after the market that day. However, after the start of the conference call, the stock price fell back, and the stock price fell by nearly 0.5% near the end of the market. According to some analysts, one possible reason for the rapid drop in Amazon’s after-hours stock price is that Amazon’s chief financial officer stated in a conference call that AWS is expected to grow weak in the short term, and the growth rate of AWS in April was about 5 percentage points lower than that in the first quarter. .
Amazon’s prospects have long been intertwined with AWS’s fortunes. Amazon CEO Andy Jassy said,
Amazon’s advertising business grew strongly, primarily due to our continued investments in machine learning. But the AWS business currently faces “short-term headwinds” as companies spend more cautiously on cloud services amid recession fears, but he believes “there’s going to be a lot of growth ahead,” noting that the company is investing in large Invest in language models.
Amazon’s first-quarter results are impressive, and its revenue and profit business performance has exceeded expectations in an all-round way! Click on the video to see it!