BMO Capital raised Amazon's stock price target to $220 from $215 and affirmed an outperform rating on the shares after the earnings beat. The firm said it was positive about the company's accelerating AWS growth trajectory in coming quarters.

Amazon CEO Andy Jassy has significantly reoriented the company to focus on AI innovations since falling behind Microsoft, Google and other peers in the space.

Amazon topped estimates for its first quarter earnings, reporting $143.3 billion in revenue, up 13% year-over-year, and earnings per share of $0.98. Analysts expected Q1 revenue of $142.7 billion and earnings per share of $0.83.

The bar for Q1 earnings was set high, but Amazon beat the consensus. Find out why I maintain my buy rating on AMZN stock.

Amazon.com Inc.’s stock popped 5% in extended trading Tuesday after the company reported fiscal first-quarter net income and revenue that exceeded analysts’ predictions. AWS powered the results, jumping 17% to $25 billion.

Key Takeaways Amazon reported first-quarter earnings after the bell Tuesday that beat analysts' estimates on the back of growth from its Amazon Web Services (AWS) and advertising revenue.Earlier in the day,

Amazon.com posted better-than-expected first-quarter financial results, driven by strong growth in the company’s AWS cloud computing business and impressive advertising demand. Shares were up 4.5% in after-hours trading Tuesday to $182.

Amazon Web Services (AWS), the part of Amazon that does cloud computing, made $25.04 billion in the first three months of this year. That’s 17% more money than they made during the same time last year.

Amazon forecast second-quarter revenue below Wall Street expectations on Tuesday, as it expects tepid spending from cost-conscious businesses on its cloud-computing services. Amazon’s first-quarter sales of $143.