Amazon's earnings beat Q1 expectations

ISTANBUL

Amazon's earnings exceeded expectations in the first quarter, according to the company's financial results released Thursday.

Revenue increased 9% in the January-March period compared to the same period last year, rising to $155.7 billion, exceeding market expectations of $155 billion.

Meanwhile, Amazon's net income soared to $17.1 billion in the first quarter compared to $10.4 billion a year earlier.

The company's earnings per share rose to $1.59 from $0.98.

Markets expected earnings per share to come in at $1.36.

Amazon announced that it expects net sales between $159 billion and $164 billion in the second quarter.

But the tech giant said that future earnings may be affected by many factors, including tariffs and trade policies, as well as inflation and recessionary fears.

"Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates, changes in global economic and geopolitical conditions, tariff and trade policies, and customer demand and spending (including the impact of recessionary fears), inflation, interest rates, regional labor market constraints, world events, the rate of growth of the internet, online commerce, cloud services, and new and emerging technologies," it said in a statement.