Amazon Soars As Q1 Earnings Crush Views; Q2 Outlook Bullish

E-commerce powerhouse Amazon.com (AMZN) easily beat Wall Street’s Q1 earnings expectations and sent the stock surging 12% in after-hours trading.

The Seattle-based firm swung to a profit of $1.07 a share, which crushed the consensus earnings estimate of 58 cents. Revenue rose 28% to $29.1 billion for the quarter, ahead of the $27.99 billion view.

Amazon Web Services (AWS), the company’s cloud computing division also beat analyst expectations and grew revenue to $2.56 billion. The company...

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