Amazon Rides the Pandemic Wave to Another Incredible Quarter

By Sheridan Fifer

Amazon is still riding the pandemic wave, logging another quarter of incredible growth. The online retailer's first quarter earnings far surpassed analysts' expectations. Sales surged 44% over last year, and the momentum shows no signs of slowing. Amazon's guidance for the second quarter predicts another earnings beat, with revenue between $110 billion and $116 billion. 

On top of the good news, Amazon's CFO Brian Olsavsky confirmed that the retailer's annual Prime Day will take place in June this year, following the pandemic-related postponement of the shopping holiday last year. 

Amazon’s guidance for the second quarter implies that it expects the momentum to continue, which should help allay investor fears that business could slow in a post-pandemic environment. 

Read the full story at CNBC.