Amazon Sales Are up 44% in Q1 2021 and the stock at an All-Time High

Amazon shares rose as much as 3% in post-close trade Thursday April 29th, after the company released its first-quarter earnings, beating Wall Street’s earnings and revenue expectations.

The company made profits of $15.79 per share, compared to expectations of $9.54 per share, and revenues of $108.52 billion compared to expectations of $104.47 billion.

And few companies have benefited from the online shopping boom fueled by the pandemic, such as Amazon.

The company’s first-quarter results showed continued support for the company’s business due to the epidemic, with revenues rising 44% year-on-year to $108.5 billion.

And Amazon indicated that it expects momentum to continue in the second quarter, which should help assuage investor concerns that business may slow down in the post-pandemic environment.

The company expects to generate revenues between $110 billion and $116 billion, beating Wall Street’s forecast of $108.6 billion.

Outside of the company’s core retail segment, Amazon’s cloud computing and advertising business continues to thrive.

Amazon Web Services saw net sales of $13.5 billion during the quarter, up 32% year-on-year

The company does not disclose ad sales, but it is included in the “other” category of the company, which has seen its revenue grow 77% year-on-year to $ 6.9 billion.