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<Research> Citi: Amazon.com, Inc. (AMZN.US) 1Q Results and 2Q Guidance Beat Expectations
Citi Research said in a report that Amazon.com, Inc. (AMZN.US) recorded revenue of USD181.5 billion in 1Q, representing a 15% YoY increase at constant exchange rates and 2% above m...
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<Research> Citi: Amazon.com, Inc. (AMZN.US) 1Q Results and 2Q Guidance Beat Expectations
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Citi Research said in a report that Amazon.com, Inc. (AMZN.US)      recorded revenue of USD181.5 billion in 1Q, representing a 15% YoY increase at constant exchange rates and 2% above market expectations. Operating income reached USD23.9 billion, 11% above the upper end of the companys guidance. Key AWS revenue accelerated to 28% YoY growth, in line with market expectations, while AWS operating margin reached 37.7%, above the brokers forecast.

In addition, North America revenue grew 12% YoY, with retail margin expanding 165 bps YoY to 7.9%. Advertising revenue increased 22% YoY excluding foreign exchange impact. The broker believes the company executed well across all business segments.

Related NewsEIA Crude Oil Stocks Change for May/08 in the United States is -4.306M, lower than the previous value of -2.313M. The forecast was -2.10M.
Looking ahead to 2Q, as Prime Day is expected to be held during the quarter, the midpoint of revenue guidance is 4% above market expectations. Operating income guidance ranges from USD20 billion to USD24 billion, compared with market expectations of USD22.6 billion. Citi maintains a TP of USD285 and a Buy rating on Amazon.com, Inc.. (ss/u)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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