Amazon Stock Flat After Strong Earnings Report

After missing analysts' expectations for three consecutive quarters, Amazon beat the Street's forecast, reporting earnings of $0.18 per share compared to earnings of $0.28 per share last year. Wall Street analysts were expecting earnings of $0.10 per share.

Despite the good news, Amazon's stock was up only 1% to approximately $277 per share in after-hours trading.

The report shows that sales continued to grow at a slightly slower clip in Q1, up 22% year-over-year to $16.07 billion. Growth for the last four quarters has averaged 28%. Operating cash flow increased 39% to $4.25 billion. Free cash flow declined 85% to $177 million, which Amazon attributes to its $1.4 billion investment in property and corporate office space at its headquarters in Seattle. Read more...