Executive Summary

• Amazon.com reported 1Q19 revenues of $59.70 billion, up 17.0% year over year and in line with the consensus estimate. EPS was $7.09, up 61% year over year and beating the $4.70 consensus estimate.
• Amazon Web Services (AWS) was the fastest-growing segment by far, growing 41.4%; subscription revenue grew 40.0%. Operating profit in the North America segment doubled, and the loss in the international segment declined sharply.
• The company guided for 2Q19 revenues of $59.5-63.5 billion (up 13-20% year over year), in line with the consensus estimate, and operating income of $2.6-3.6 billion, below the $4.2 billion consensus estimate.