Amazon hits 200 million Prime members

Brick and mortar heads to the museum [Click to view in browser](. Good morning, Jeff Bezos doesn’t matter. At least that’s what the market said today after Amazon (AMZN) reported earnings. The results were incredible. [Schitts Creek Comedy GIF by CBC] Big numbers In the first earnings release since Jeff Bezos abdicated the CEO spot, sales surged 44%. Analyst missed the market by a mile, as the company came in with $15.79 EPS vs $9.54 estimates. In case that wasn’t enough, here are some eye popping facts: - Operating income more than doubled in the first quarter to $8.9 billion - Net income increased 224% in Q1 vs last year. - More than 200 million Prime subscribers, of which 50 million came in the last year Put it this way. If Amazon was a country and revenues were GDP, it would be in the top 30 in the world. What the future holds Jeff Bezos officially steps away in Q3 of this year. So far, there hasn’t been much said by the company. Rumors swirled that Amazon was looking to do a stock split similar to Apple and Tesla. That would have been a welcome development since those actions sent shares of those companies soaring shortly thereafter. After their recent vote with unionization in Alabama, the company pledged more than $1 billion in pay increases pulled forward early. We expect this pressure to continue as the company pushes towards more automation and innovation while reaping record profits. Our hot take Amazon couldn’t turn a profit for decades. Yet, investors gave Bezos the slack to build an empire. And they are now one of the largest companies on Earth. Just think about where they started - selling books online. If this doesn’t inspire you, then you might not have feelings. The moral of this story - don’t bet against Amazon. Now, today marks the last trading day of the week and the month. As such, we wanted to hit you up early with some sweet reads rather than our usual lunchtime hour. Enjoy! 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