Amazon (AMZN) shares rose after the tech giant delivered strong first quarter earnings largely driven by Prime Video ad revenue and its cloud computing business, Amazon Web Services (AWS). However, the tech giant's retail and ecommerce segments lagged behind, as the company's second quarter outlook fell short of Wall Street expectations.
Bernstein Internet Equity Research Analyst Mark Shmulik breaks down Amazon's earnings and how the company's generative AI investments are driving significant growth despite weak retail guidance. "When the dust settles on earnings, Amazon's gonna emerge as the cleaner name amongst the 'Mag Seven,'" he tells Brad Smith, adding that its investments in AWS and artificial intelligence speak to "the leverage in the business."
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