It looks like the president’s anti-Amazon tweets weren’t enough to doom the company’s financials. Sad!
Amazon just reported its first-quarter 2018 earnings, easily beating analyst estimates on revenue and profits. We’ve been eagerly waiting to see if political tumult and angry rhetoric from President Trump would have any impact on the company’s business. Now that the results are in, here are some of the standouts:
- Revenue: The company hit $51.04 billion in revenue, compared to Thomson Reuters’ expectations of $49.78 billion.
- EPS: Earnings per share clocked in at $3.27, far above an estimate of $1.26.
- AWS: Amazon’s cloud program revenue hit $5.44 billion, compared to $5.25 billion expectations.
Shares were up almost 7% in after-hours trading, according to CNBC. Amazon executives will discuss the results on a conference call later this afternoon. We’ll be looking out for any other standout news.