Key points:

• Q1 revenue: $155.7B vs. $149.8B expected
• Q1 profit: $17.1B, topping Wall Street views
• AWS growth at 17%, slightly below consensus

Shares of the cloud computing and e-commerce giant slipped as much as 4.3% in after-hours trading.

📉 Amazon Shares Drop Over 4%

• Amazon AMZN posted a strong quarter on paper — but that wasn’t enough to stop investors from hitting the sell button. Shares fell as much as 4.3% in after-hours trading Thursday, as traders digested a mix of upbeat Q1 results and a foggy outlook clouded by tariff uncertainty.
• Revenue for the first quarter rose 9% year over year to $155.7 billion, handily beating Wall Street’s estimates and up from last year’s $143.3 billion. Profit clocked in at $17.1 billion, another strong beat. But even with those figures humming, CEO Andy Jassy’s comments on the potential impact of tariffs left investors jittery.

🎁 Solid Guidance, but Also… Tariffs

• Amazon’s forecast for the second quarter was solid, but didn’t deliver the kind of conviction traders were looking for. The company expects second-quarter revenue to land between $159 billion and $164 billion, and operating income between $13 billion and $17.5 billion. However, the lower ends of both ranges came in below analyst forecasts — and in this market, caution equals concern.
• The Amazon chief didn’t beat around the bush: “Obviously, none of us know exactly where tariffs will settle, or when.” He noted that Amazon hasn’t seen merchants’ prices jump or customer demand dip — yet. But he did point out a possible early warning: “heightened buying in certain categories that may indicate stocking up in advance of any potential tariff impact.”

🧐 AWS Growth: Good, Not Great

• Adding to the mixed reaction, Amazon Web Services (AWS) — the company’s high-margin profit engine — posted quarterly sales of $29.3 billion, a nearly 17% increase from last year. But the figure came in slightly below expectations, tempering some of the optimism around the cloud business.
• AWS has been under intense scrutiny amid growing competition from Microsoft and Google. And while 17% growth is nothing to scoff at, investors are clearly looking for perfection when it comes to tech’s cloud giants.

Source: Tradingview