Amazon’s GenAI Could Generate ‘Multi-Billion Revenue Run-Rate’: JPMorgan
Amazon.com Inc (NASDAQ:AMZN) reported Q1 revenue of $143.3 billion, up 13% year-over-year, beating estimates. Earnings per share were 98 cents, recording a 25.64% surprise on the consensus of 82 cents.
The earnings beat was propelled by robust performance in AWS and its international business. AWS revenue growth surged to 17%, marking a significant acceleration.
CEO Andy Jassy noted a strong start to the year, attributing it to customer experience improvements and financial results. He also mentioned that AWS’s growth rate is reaccelerating, with AWS now being a $100-billion annual revenue run rate business.
Related: Amazon Q1 Earnings Highlights: Revenue Beat, EPS Beat, AWS Hits $100-Billion Annual Run Rate And More
The Amazon Analyst
JPMorgan analyst Doug Anmuth maintains an Overweight rating on Amazon stock. He raised his price target for Amazon stock from $225 to $240. This target is based on about 28 times the estimated 2025 free cash flow (FCF) of $86 billion, which equates to around 21 times the estimated 2026 FCF of $108 billion.
The Amazon Thesis
Anmuth is doubling …
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