Amazon Beats

$Amazon (AMZN.US)$ beats on top and bottom lines. Guidance is mixed.
Amazon reported better-than-expected earnings and revenue for the first quarter, driven by growth in advertising and cloud computing. The stock was volatile in extended trading.

Amazon expects a continued jump in profitability for the second quarter but at a more measured pace. The company said operating income will be $10 billion to $14 billion, up from $7.7 billion a year earlier.

$AMZN Amazon Q1 FY24:
• Revenue +13% Y/Y to $143B ($0.7B beat).
• Operating margin 11% (+7pp Y/Y).
• FCF $50B TTM.
• Earnings per share: 98 cents vs. 83 cents expected by LSEG

AWS:
• Revenue +17% Y/Y to $25.0B.
• Operating margin 38% (+14pp Y/Y).

Q2 FY24 Guidance:
• Revenue ~$144-$149B ($150B expected), representing growth of 7% to 11%.