Zacks Rank #1 (Strong Buy)-based Amazon.com AMZN posted perhaps the most impressive earnings report of the entire (extremely robust) Q1 earnings season thus far: earnings of $3.27 per share beat the estimated $1.22 by 168%, on revenues of $51.04 billion which outpaced the $50.17 billion in the Zacks consensus, which is up 43% year over year. We already learned prior to the company's earnings report that Amazon has now amassed more than 100 million Prime customers worldwide, and shares immediately spiked 7% to new all-time highs.
Subscriber services brought in $3.1 billion, above the $2.8 billion expected, while cloud computing outperformed expectations to $5.44 billion in the quarter. Even its brick & mortar unit beat estimates to $4.27 billion. Trailing 12-month operating cash flow came in at 18.2%, and Q2 guidance is pushed up 34-42% year over year, with operating income expected at $1.1 billlion to $1.9 billion. Amazon also announced it is extending its streaming deal with the NFL for its Thursday Night Football broadcasts. Anything else? For more on AMZN's earnings, click here.
Another big beat after Thursday's bell came from Microsoft MSFT, which saw 95 cents per share outpace the 85 cents in the Zacks consensus, on $26.82 billion in revenues which blew away the predicted $25.71 billion. Commercial cloud revenue in the quarter grew 57%, with growth overall +93%. Amazingly, this is actually in-line with analysts expectations, which may be one reason we see MSFT shares down 1.2% in after-market trading, cutting the stock's regular-day gains in half. For more on MSFT's earnings, click here.
Intel INTC also put up excellent Q1 earnings numbers, with 87 cents per share far outperforming the 71 cents expected, on $16.07 billion in revenues that beat estimates by a cool billion dollars. The Zacks Rank #3 (Hold)-based chipmaking giant saw better-than-expected growth in its Data Center Group to $5.2 billion from the estimated $4.8 billion, and PC/Mobile chips sold $8.2 billion in the quarter, better than the $7.9 billion expected. Shares popped on the earnings release by roughly 5% in late trading. For more on INTC's earnings, click here.
Starbucks SBUX wasn't quite as fortunate in its quarterly earnings report this afternoon, posting 53 cents per share — in-line with esitmates — on $6.03 billion in sales, which surpassed the expected $5.90 billion. Same-store sales reached 2%, another in-line figure, with China leading the way at 4% growth year over year. Shares of the coffee giant are also selling off in late trading today, down 2.75% at this hour. For more on SBUX's earnings, click here.
Also, travel services firm Expedia EXPE significantly cut their losses from expectations in its quarterly report — to -36 cents per share from the Zacks consensus -60 cents. Revenues, however, were below the $2.46 billion anticipated to total $2.31 billion, though this figure was minus its majority-held Trivago service. New acquisition Home Away borught in $3.9 billion in gross bookings for the quarter, however, and a buyback program of 15 million shares have helped catapult the recently beleaguered stock =10% in the late session today, effectively erasing its losses for the year.
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