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<Research> CICC: Amazon.com, Inc. (AMZN.US) 1Q Results Beat; Higher Capex to Build Larger AI Infrastructure Revenue Pool
CICC said in a research report that Amazon.com, Inc. (AMZN.US) is leveraging higher capital expenditure to build a larger AI infrastructure revenue pool. In 1Q, total revenue rose ...
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<Research> CICC: Amazon.com, Inc. (AMZN.US) 1Q Results Beat; Higher Capex to Build Larger AI Infrastructure Revenue Pool
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CICC said in a research report that Amazon.com, Inc. (AMZN.US)      is leveraging higher capital expenditure to build a larger AI infrastructure revenue pool. In 1Q, total revenue rose 17% YoY to USD181.5 billion, operating profit increased 30% YoY to USD23.9 billion, and net profit climbed 77% YoY to USD30.3 billion, mainly due to a USD16.8 billion investment gain from Anthropic. Diluted EPS was USD2.78, beating market expectations. Benefiting from better-than-expected performance in cloud computing services and retail operations last quarter, the companys revenue and profit exceeded both market and CICCs forecasts.

CICC believes the groups cloud supply will continue to be released, and it raised revenue forecasts for this year and next year by 2.5% and 4.2% to USD833.6 billion and USD927.9 billion, respectively. Considering the companys ongoing internal efficiency improvements, CICC lifted net profit forecasts for this year and next year by 13.7% and 6.6% to USD109.5 billion and USD121.4 billion, respectively. The broker maintained an Outperform rating and kept its TP at USD280, taking into account the currently cautious market sentiment. The TP corresponds to 16x and 13x enterprise value-to-EBITDA for this year and next year, implying 6% upside potential. (hc/da)(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

Related NewsPPI YoY for Apr in United States is 6.0%, higher than the previous value of 4.3%. The forecast was 4.9%.

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