TheStreet's Martin Baccardax noted that Amazon reported net income for the three months ending in March was pegged at $15.79 per share, more than tripling last year's $5.01 total and smashing the Street consensus forecast of $9.54 per share. Group revenues, Amazon said, surged 44% from last year to $108.5 billion, topping analysts estimates of a $104.55 billion tally.
“Two of our kids are now 10 and 15 years old—and after years of being nurtured, they’re growing up fast and coming into their own,” said CEO Jeff Bezos. “As Prime Video turns 10, over 175 million Prime members have streamed shows and movies in the past year, and streaming hours are up more than 70% year over year. Amazon Studios received a record 12 Academy Award nominations and two wins."
"In just 15 years, AWS has become a $54 billion annual sales run rate business competing against the world’s largest technology companies, and its growth is accelerating—up 32% year over year," he added. "Companies from Airbnb to McDonald’s to Volkswagen come to AWS because we offer what is by far the broadest set of tools and services available, and we continue to invent relentlessly on their behalf. We love Prime Video and AWS, and we’re proud to have them in the family.”
Watch Jim Cramer weigh in on Amazon, a name in his Action Alerts PLUS portfolio, in the video above.
Recap TheStreet Live: Everything Jim Cramer Is Watching Friday