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Amazon blew the doors off all expectations for earnings in the first quarter, helped by comparisons with a year-ago period hit by Covid-19 but also the eruption of several business lines. Video str…
blew the doors off all expectations for earnings in the first quarter, helped by comparisons with a year-ago period hit by Covid-19 but also the eruption of several business lines. Video streaming — sometimes a throwaway in the company’s earnings announcements — was this time a centerpiece.
Founder and CEO, who is shifting to executive chairman this summer, noted that streaming has risen 70% compared with the same time a year ago. Prime Video, which has recently marked its 10th anniversary, served film or TV titles to some 175 million global members. Earnings came in at $15.79 per diluted share, compared with $5.01 a year ago. Revenue surged 44% to $108.5 billion. Bezos also gave a major shout-out to Amazon Web Services. “In just 15 years,” he said, “AWS has become a $54 billion annual sales run rate business competing against the world’s largest technology companies. “We love Prime Video and AWS, and we’re proud to have them in the family.” While the updated and prominent stats for Prime Video were unusual, full visibility into the company’s streaming business remains limited. The company’s programming is rated by Nielsen in the U.S., but unlike Netflix it releases only directional reports on viewing. Last fall, for example, it raved thatwas watched by “tens of millions” of members in its first weekend — not exactly a number that got agents’ calculators humming.
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