Apr 29, 2021 - Technology

Amazon smashes Q1 2021 results

Ashley Gold

Amazon's first-quarter results blew past analyst expectations for both earnings and revenue on Thursday.

Why it matters: Amazon's business is more successful than ever as people still rely on its services while slowly digging out from the COVID-19 pandemic. Sales surged 44% year-over-year to $108.5 billion and shares jumped 3.5% in extended trading.

By the numbers:

Earnings: $15.79 per share vs. $9.54 per share expected, per CNBC
Revenue: $108.52 billion vs. $104.47 billion expected, per CNBC
Amazon Web Services had net sales of $13.5 billion, up 32% year over year
Advertising revenue is not broken out on its own, but is included in the "other" category, which saw revenues grow 77% year over year to $6.9 billion.
CEO Jeff Bezos said 175 million Amazon Prime members streamed content in 2021, with streaming hours up 71%.

Prime Day, a major revenue booster, will happen in June this year, the company announced. Last year, Prime Day was moved to October from July due to the pandemic.

Between the lines: Amazon touted massive financial success and its investments in worker safety, higher wages for operations workers and pandemic relief.

That's important for Amazon to highlight as the company faces scrutiny in the U.S. for its size and profits.

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Amazon smashes Q1 2021 results

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