Amazon sees strong AWS growth in Q1 results
(Image: file photo)
Amazon on Thursday posted its fiscal first quarter results. And like previous quarters, its cloud business -- Amazon Web Services -- continued to fare well.
The company announced overall net income of $724 million, or $1.48 a share, on revenues of $35.7 billion, up by 23 percent year-over-year.
Wall Street was looking for earnings of $1.12 per share with $35.3 billion in revenue.
Its operating income fell by 6 percent to $1 billion, compared to $1.1 billion on the same quarter last year.
The star of the show was Amazon Web Services (AWS), which gained greater strength during the quarter, as as expected -- even if it did have an hours-long hiccup during the quarter, which was later attributed to a simple typo.
The cloud service earned $3.66 billion in revenue, up 43 percent year-over-year, while its operating income landed in at $890 million -- compared to Amazon's North American e-commerce business which made $596 million.
Amazon said its international sales came in at $11.06 billion, up from $9.56 billion in the year-ago quarter.
For its second quarter outlook, Amazon said is expecting between 33.2 billion and 37.7 billion, with operating income expected to land between $425 million and $1.07 billion.