Amazon Q1 earnings showed a lot of good things, analyst says

Amazon (AMZN) reported its first quarter earnings on Tuesday after the market's close, with its Amazon Web Services (AWS) segment posting a 17% year-over-year revenue spike. In the wake of this highly anticipated financial release, Jefferies Tech Research Analyst Brent Thill joins The Morning Brief to dissect the results.
Thill characterizes Amazon's performance as "a mixed box of goods." He notes that AWS, the advertising business, and operating income all outperformed expectations in the first quarter results, stating, "Amazon works when you're in harvest mode, not invest mode." The numbers have left him "encouraged" about the stock's future prospects.
On the advertising front, Thill highlights that the business is in "great shape" as Amazon continues to blend its advertising efforts with Prime Video. He emphasizes that sponsored ads will be tailored to each consumer's preferences. This strategic approach and Amazon's continued investment in its advertising capabilities could potentially unlock "a whole other leg" for the company, comprising an "advertising opportunity that we haven't even seen."
About Yahoo Finance:
Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life.
- Get the latest news and data at finance.yahoo.com
- Download the Yahoo Finance app on Apple (apple.co/3Rten0R) or Android (bit.ly/3t8UnXO)
- Follow Yahoo Finance on social:
X: / yahoofinance
Instagram: yahoofinanc...
TikTok: www.tiktok.com/@yahoofinance?...
Facebook: / yahoofinance
LinkedIn: / yahoo-finance