Amazon smashes Q1 2021 results
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.