Keep pulling the thread on Amazon Web Services.
Amazon provided second-quarter net sales guidance in the range of $194 billion to $199 billion, exceeding the street estimate of $189.15 billion.
Amazon projects its second-quarter operating income to be between $20 billion and $24 billion, compared to the analyst estimate of $22.86 billion.
Amazon Web Services (AWS) net sales grew 28% year-over-year on a constant currency basis in the first quarter, beating the estimate of 25.7%.
Microsoft's third-quarter Azure and other cloud services revenue grew 39% year-over-year on a constant currency basis, beating the estimate of 38.2%.
Microsoft reported third-quarter revenue of $82.89 billion, exceeding analyst estimates of $81.46 billion.
Meta raised its full-year capital expenditure guidance to a range of $125 billion to $145 billion, up from its previous forecast of $115 billion to $135 billion.
Alphabet reported first-quarter revenue of $109.9 billion, beating the street estimate of $107.1 billion.
Ed Ludlow states that Amazon Web Services' 28% growth rate is its highest in approximately 15 quarters.
Microsoft reported that its AI business annual revenue run rate is up 123% year-over-year.
Amazon's operating margin for the first quarter was 13.1%, which was higher than the forecast of 11.7%.
Meta provided second-quarter revenue guidance in the range of $58 billion to $61 billion, which is in line with the street estimate of $59.56 billion.
Alphabet boosted its dividend by 5% to $0.22 per share, matching street expectations.