#Amazon reported Tuesday first-quarter results that topped #Wall_Street estimates as better-than-expected performance in its cloud business underscored renewed cloud demand from the #artificial-intelligence boom.
#Amazon_Inc (NASDAQ:#AMZN) rose more than 3% in afterhours #trading following the report.
#Amazon reported Q2 EPS of $0.98 on revenue of $143.31 #billion, beating estimates of $0.84 on revenue of $142.65B.
Amazon #Web 3Services, its cloud revenue segment, grew 17% to $25B, topping consensus estimates of $14.7% growth, with the division’s #annual revenue run rate now at a $100B.
“The combination of companies renewing their infrastructure modernization efforts and the appeal of AWS’s AI capabilities is reaccelerating AWS’s growth rate,” the company said Tuesday.
#North_America segment sales increased 12% year-over-year to $86.3B.
Looking ahead, the company guided Q2 revenue slightly below than #analyst expectations.
For the second quarter, the company expects revenue of $144B to $149B, compared with #WallStreet estimates of $150.2B. Operating income for Q2 was guided in a range of $10B to $14B.
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