ALBAWABA - Amazon's stock jumped 10 percent in after-hours trading when the U.S.-based international e-commerce firm reported strong earnings in the first quarter of the year.
Amazon reported Thursday that its earnings per share stood at $0.31, compared to expectations of $0.21 per share.
Amazon's revenues reached $127.4 billion in the January-to-March period, exceeding analysts' expectations of $124.5 billion.
The company's advertising revenues in the first quarter were around $9.5 billion, higher than analysts' expectations of $9.1 billion.
Additionally, Amazon Web Services revenue was $21.3 billion in the same period, slightly exceeding expectations of $21.22 billion.
Amazon expects to generate revenue in the range of $127 billion to $133 billion during the second quarter of the year, which is close to analysts' expectations of $129.8 billion.
The company's operating income in first quarter increased to $4.77 billion, up from $3.67 billion in the corresponding period of 2022.
