“Amazon shares climbed more than 3% in extended trading Thursday after the company released its first-quarter earnings, beating Wall Street’s expectations for earnings and revenue.
“Few companies have benefited from the pandemic-fueled surge of online shopping as much as Amazon. Its first-quarter results showed the company’s business continues to be buoyed by the pandemic, with sales soaring 44% year over year to $108.5 billion.
“Amazon’s guidance for the second quarter implies that it expects the momentum to continue, which should help allay investor fears that business could slow in a post-pandemic environment.
“The company expects to post revenue between $110 billion and $116 billion, surpassing Wall Street’s projection of $108.6 billion.”
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