Amazon.com Inc (NASDAQ:AMZN) delivered a strong first-quarter earnings beat on Wednesday, with revenue, profit, and cloud growth all surpassing Wall Street expectations.
The Seattle-based e-commerce and cloud giant reported first-quarter net sales of $181.5 billion, ahead of analyst estimates of approximately $177 billion and up 17% year-over-year.
Earnings per share came in at $2.78, well above the consensus estimate of $1.62. Net income surged to $30.3 billion from $17.1 billion a year earlier, though the figure included $16.8 billion in pre-tax gains tied to the company's investment in AI startup Anthropic.
Amazon Web Services posted net sales of $37.6 billion, topping estimates of around $36.8 billion and marking 28% year-over-year growth, the fastest pace in 15 quarters.
Operating income for the quarter came in at $23.9 billion, surpassing the $20.9 billion expected by analysts.
Shares dipped roughly 1.2% in afterhours trading.
The company's chips business exceeded a $20 billion annual revenue run rate, growing at a triple-digit percentage year-over-year, while advertising surpassed $70 billion in trailing 12-month revenue. Store unit growth reached 15%, the highest since pandemic-era demand peaks. Same-day and overnight delivery surpassed 1 billion items delivered so far in 2026.
CEO Andy Jassy said the company is positioned at the center of major technological shifts. "We're in the middle of some of the biggest inflections of our lifetime, we're well positioned to lead, and I'm very optimistic about what's ahead for our customers and Amazon," he said.
For the second quarter, Amazon guided for net sales of $194 billion to $199 billion, above analyst estimates of $189 billion, and reaffirmed full-year capital expenditure guidance of approximately $200 billion.