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Photo: Ethan Miller / Getty Images

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.

Go deeper

Apr 28, 2021 - Economy & Business

Facebook stock spikes on strong Q1 revenue growth

(Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Facebook's stock was up more than 6% in after-hours trading Wednesday, after it reported strong Q1 revenue results, which it attributed to growth in its advertising business. It also exceeded Wall Street expectations on earnings per share.

Yes, but: The tech giant missed Wall Street expectations slightly on user growth, suggesting its consistent user growth throughout the pandemic has begun to slow slightly.

Ina Fried, author of Login
Updated Apr 28, 2021 - Technology

Apple blows past quarterly estimates

Illustration: Rebecca Zisser/Axios

Apple's latest quarterly results greatly exceeded Wall Street expectations, as sales of the iPhone, Mac and iPad all came in far ahead of expectations. The iPhone maker saw total sales outside the U.S. account for more than two-thirds of its nearly $90 billion in quarterly revenue.

Why it matters: Apple is seen as a bellwether for the broader tech industry and is also a huge driver of demand for chips, screens and other components.

Apr 29, 2021 - Technology

Facebook touts big business bets with 2020 in rearview

Illustration: Sarah Grillo/Axios

Facebook's earnings call Wednesday was a huge departure from its pitch to investors over the past year. Instead of reiterating its progress in trust and safety, the tech giant touted investments in innovation and new technology.

Why it matters: A slew of public relations crises over the past year had clouded Facebook's ability to position itself to stakeholders as a tech innovator.