Categories AlphaGraphs, Earnings, Retail

Amazon (AMZN) Q1 earnings surge and beat Street view as pandemic boosts sales

Thriving on the COVID-driven spike in e-commerce activity,, Inc. (NASDAQ: AMZN) reported a 44% growth in first-quarter sales. The results topped expectations, driving the retailer’s stock higher on Thursday evening.

Amazon Q1 2021 earnings infographic

Online store sales, which accounts for about half of total revenues, climbed 44% in the March quarter. At $108.5 billion, net sales were up 44% year-over-year and well above analysts’ forecast.

First-quarter net income more than tripled to $8.1 billion or $15.79 per share from $2.5 billion or $5.01 per share in the corresponding period of 2020. The latest number also surpassed estimates.

Read management/analysts’ comments on Amazon’s Q1 report

Amazon’s market value grew 9% since the beginning of the year. The strong earnings report triggered a rally and the stock gained during Thursday’s extended trading session.

  • Amazon reports Q4 2020 earnings results
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