AMZN stock slipped as the company's Q1 earnings were released, after gaining 16% YTD. The call scheduled for 5:30 p.m. ET.

Amazon reported its latest quarterly earnings results Wednesday, revealing AWS sales were up 28% and overall revenue had exceeded $181 billion.

Amazon (AMZN) is in the spotlight during extended trading hours after the tech giant delivered a massive “double beat” in Q1 results – powered by an explosion in AI-driven cloud demand and a high-margin advertising surge.

Amazon on Wednesday reported a strong increase in profits and revenue during its fiscal first quarter, helped by surging growth in its prominent cloud computing unit

Amazon reported total net sales of $181.5 billion and a profit of $30.3 billion, or 2.78 per share. Wall Street was expecting net sales of $177.16 billion on earnings of $1.65 per share, per analyst estimates compiled by Yahoo Finance.

Amazon posted a beat on EPS and revenue expectations in its latest financial quarter, thanks in part to Amazon Web Services, the company’s popular web computing platform. AWS earned $37.587 billion in revenue in Q1 2026.

Amazon's latest quarterly net income included pre-tax gains of $16.8 billion in non-operating income from its investments in Anthropic.