Amazon.com Inc AMZN reported stronger-than-expected first-quarter financial results after market close Thursday.
Amazon.com reported first-quarter net sales of $155.7 billion, up 9% year-over-year. The net sales beat a Street consensus estimate of $155.04 billion according to data from Benzinga Pro. The company reported first-quarter earnings per share of $1.59, beating a Street consensus estimate of $1.36.
“We’re pleased with the start to 2025, especially our pace of innovation and progress in continuing to improve customer experiences,” Amazon CEO Andy Jassy said.
The company said it expects second-quarter net sales of $159 billion to $164 billion, up 7% to 11%. Analysts expect the company to have net sales of $160.91 billion in the quarter.
Amazon shares gained 3.1% to close at $190.20 on Thursday.
These analysts made changes to their price targets on Amazon following earnings announcement.
- Rosenblatt analyst Barton Crockett maintained Amazon.com with a Buy and raised the price target from $287 to $288.
- JP Morgan analyst Doug Anmuth maintained the stock with an Overweight rating and raised the price target from $220 to $225.
- Needham analyst Laura Martin, meanwhile, reiterated Amazon.com with a Buy and maintained a $220 price target.
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