Amazon (NASDAQ: AMZN) reported Q1 EPS of $0.98, $0.14 better than the analyst estimate of $0.84. Revenue for the quarter came in at $143.31 billion versus the consensus estimate of $142.65 billion.

GUIDANCE:

Amazon sees Q2 2024 revenue of $144-149 billion, versus the consensus of $150.1 billion.

• Net sales are expected to be between $144.0 billion and $149.0 billion, or to grow between 7% and 11% compared with second quarter 2023. This guidance anticipates an unfavorable impact of approximately 60 basis points from foreign exchange rates. In first quarter 2024 the impact from Leap Year added approximately 120 basis points to the year-over-year net sales growth rate.
• Operating income is expected to be between $10.0 billion and $14.0 billion, compared with $7.7 billion in second quarter 2023.
• This guidance assumes, among other things, that no additional business acquisitions, restructurings, or legal settlements are concluded.

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