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For most of its 27 years as a public company, Amazon investors have been asked to sacrifice profit for growth. In its first-quarter earnings report on Tuesday, Amazon's operating margin reached double digits for the first time on record. Operating income more than tripled in the quarter to $15.3 billion, while net income also jumped more than 200% to $10.4 billion. Almost two-thirds of operating income for all of Amazon came from AWS, which is now generating over $100 billion in annualized revenue. Operating income will be $10 billion to $14 billion, up from $7.7 billion a year earlier.

Persons: Andy Jassy, Andy, Andy Jassy's, Tom Forte, CNBC's, Brian Olsavsky, Olsavsky, That's, Jassy, he's Organizations: Amazon, Seattle, Maxim Group, Revenue, Amazon Web Services, AWS, Technology, Microsoft, Google Locations: Seattle

☆ 'Winner take most': Here's what Wall Street is expecting from Amazon's Q1 earnings report
▼ + stars: | 2024-04-29 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

AdvertisementAmazon will report earnings on Tuesday after the closing bell and Wall Street has its eye on a few key details heading into the call. AdvertisementBofA analysts reiterated their "Buy" rating and $204 price target for the stock, implying a 13% upside from its current levels. AdvertisementAnalysts raised their price target for Amazon stock to $217, implying a 20% upside. The firm maintained its "Buy" rating and $220 price target, implying a 22% upside from the stock's current levels. The firm maintained its "buy" rating and $205 price target for Amazon stock, implying a 14% upside from current levels.

Persons: Goldman Sachs, —, Needham, Andy Jassy's, Wells Organizations: Investors, Service, Amazon, Amazon Web Services, Bank of America, Enterprise, Needham Locations: Wells Fargo

☆ Here are Thursday's biggest analyst calls: Tesla, Nvidia, Apple, Amazon, eBay, Zoom, JetBlue, BJ's & more
▼ + stars: | 2024-04-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

"We are initiating coverage of Samsara (IOT) with a Buy rating and $42 price target." Deutsche Bank adds a catalyst call buy on Estee Lauder Deutsche added a short-term buy rating on shares of the beauty giant. Bernstein reiterates Apple as market perform Bernstein said it's getting more "constructive" on Apple shares but is sticking with its market perform rating for now. "We are initiating coverage of AES with a Buy rating and $21PT. "We are initiating coverage on shares of Beacon Roofing Supply (BECN), a leading roofing products distributor in the United States, with a Buy rating and $135 PT."

Persons: Goldman Sachs, Goldman, Oppenheimer, JPMorgan, Lauder Deutsche, Mizuho, TD Cowen, Cowen, it's, Bernstein, Jefferies, Kite, Kite Realty Jefferies, GE Vernova, Tesla, Needham, Andy, BTIG, Davidson, Barnes, Morgan Stanley downgrades, Morgan Stanley, Etsy, Rosenblatt, Swift, Janney Organizations: Bank of America, Cisco Systems, Goldman Sachs, P, JPMorgan, JetBlue, Bancorp, SPT, Oracle, Deutsche Bank, Linde, Mizuho, LIN, Nvidia, Apple, Kite Realty, GE, Metro NY, SSS, Deutsche, Infrastructure, FTAI Infrastructure, BMO, New, AMC, Barnes Group, AES Corporation, AES, eBay, EBAY, UW, ZS, Comcast, CNBC, Benchmark, Beacon Locations: New York City, OW, United States

Analyst Laura Champine also lowered her price target to $80 from $85, implying a 6% increase for the stock. "New York City office is one of the few REIT subsectors seeing improved demand," the analyst wrote. The bank double-upgraded the e-commerce platform to overweight from underweight and hiked its price target to $62 from $35. Feather added that eBay stock is currently trading at a discount versus peers, with Etsy trading around 35% higher. "JetBlue's DNA aligns with our broader preference for loyalty, premium, and international exposure ... albeit with less vigor than the Big 3," the analyst wrote.

Persons: TD Cowen, Morgan Stanley, Needham, Laura Martin, Andy, Martin, — Jesse Pound, Laura Champine, Champine, — Lisa Kailai Han, Tesla, Emmanuel Rosner, Elon Musk, Rosner, Fred Imbert, John Kim, Kim, SLG, KeyBanc, Eric Heath, Heath, Nathan Feather, Feather, James West's, West, Jamie Baker, Baker, Lisa Kailai Han, Matthew Ramsay, Ramsay Organizations: CNBC, Nvidia, Amazon, Wholesale, BJ's Wholesale, Deutsche Bank, Tesla, Reuters, BMO Capital Markets, Green Realty, New York City, SL Green Realty, SL Green, SL, KeyBanc, eBay, EBAY, GE, ISI, GE Vernova, General Electric, JPMorgan, JetBlue JPMorgan, JetBlue, Jetblue, Technology, NVIDIA, Match Group Locations: China, Manhattan, York City, Wednesday's, York

☆ Inside Andy Jassy's plan for Amazon in the generative AI era
▼ + stars: | 2024-04-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. By the way, we're wrapping up voting for the championship matchup in our business, tech, and innovation bracket. In today's big story, we're looking at Amazon CEO Andy Jassy's letter to shareholders, which details the tech giant's plan in the age of generative AI . What's on deck:AdvertisementBut first, Amazon, AI, and a letter. The big storyAmazon in the AI ageMichael M. Santiago/Getty Images; Chelsea Jia Feng/BIThe generative AI revolution is coming, and Amazon wants in on the ground floor.

Persons: —, We've, Andy Jassy's, Michael M, Chelsea Jia Feng, Andy Jassy, Ana Altchek, Jassy, that's, Andy Jassy Mike Blake, Eugene Kim, Jassy's, Phillip Faraone, Gregor Fischer, Noam Galai, Here's, it's, Morgan Stanley, Ben Bergman, Rebecca Zisser, Adam Neumann, Neumann, Samantha Lee, Bon Appétit, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Amazon, Getty, AWS, Bridgewater Associates, Pfizer, Reuters, Prime, TechCrunch, Games, New York Times, Visual China, BI, JPMorgan Chase, Citigroup, Coachella Locations: Wells Fargo, New York, London

☆ Amazon names logistics head as new AWS CFO
▼ + stars: | 2024-01-18 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

Amazon said Thursday John Felton, the company's top logistics executive, will take over as chief financial officer of its AWS cloud computing unit. In a blog post, Doug Herrington, Amazon's worldwide retail chief, said Felton would take on a new role as senior vice president and Amazon Web Services CFO. Udit Madan, Amazon's vice president of transportation, will replace Felton. Felton has been with Amazon for nearly two decades, most recently serving as the head of its worldwide operations division. Felton will replace AWS' current CFO Richard Puccio.

Persons: John Felton, Doug Herrington, Felton, Udit Madan, Andy Jassy's, I'm, Richard Puccio, Puccio, shakeup Organizations: Amazon, Amazon Web, AWS, Street, CNBC Locations: He's

☆ Amazon's profit margin nears record after CEO Andy Jassy's dramatic cost-cutting efforts
▼ + stars: | 2023-10-26 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon founder Jeff Bezos famously told rivals, "Your margin is my opportunity." His successor as CEO, Andy Jassy, is telling Wall Street about opportunities to increase margin. In its third-quarter earnings report on Thursday, Amazon reported an operating margin of 7.8%, the highest since it reached a record of 8.2% in the first quarter of 2021. But the world has changed since early last year, when Wall Street turned on tech and an extended bull market came to a halt. AWS revenue increased 12% in the quarter, a slower pace of expansion than what was reported by smaller rivals Microsoft Azure and Google Cloud.

Persons: Andy Jassy, Jeff Bezos, Bezos, Jassy, we've Organizations: Amazon, Seattle, Wall, Amazon Web Services, AWS, Microsoft, Google Locations: Seattle

☆ Amazon SVP pledges to clarify RTO policy, says warning email about office attendance was meant to be a 'nudge'
▼ + stars: | 2023-09-26 | by ( Eugene Kim | ) www.businessinsider.com time to read: +5 min

He also told employees to share anecdotes of being pressured to immediately relocate with his HR team, so he could "dig into" those situations. "I think we created some noise, which I think is important because we really do want people back in the office," DeSantis said, according to the transcript. 'Take another whack at clarifying this message'At the town hall meeting, DeSantis said the employees who were asked to relocate were those "in purely virtual locations." 'Kind of a nudge'In August, many Amazon employees received an email accusing them of not adhering to the company's RTO policy. The warning email, he said, was "well-intentioned" and only meant to be a "nudge" for people who weren't complying.

Persons: hasn't, Peter DeSantis, DeSantis, Rob Munoz, Munoz, Andy Jassy Michael M, Andy Jassy's, what's Organizations: Amazon, Utility Computing

An Amazon worker moves boxes on Amazon Prime Day in the East Village of New York City, July 11, 2023. The Federal Trade Commission on Wednesday updated its complaint against Amazon for its "deceptive" Prime sign-up and cancellation processes, adding three senior executives as defendants. Top Amazon executives overseeing Prime downplayed employee concerns about members of the popular subscription program being enrolled without their consent, the amended complaint alleges. Subscription services revenue, which includes Prime memberships, totaled $9.8 billion in Amazon's most recent quarterly earnings report. Amazon executives and employees met in 2018 about "Project Lucent," where the primary objective was to discuss "how many Prime signups [is] Amazon .

Persons: Russell Grandinetti, Jamil Ghani, Neil Lindsay, Grandinetti, Lindsay, Andy Jassy's, Ghani, Tim Doyle, Doyle, Mark Zuckerberg, Meta, Zuckerberg Organizations: Amazon, Federal Trade Commission, Top Amazon, Lucent, FTC Locations: East, New York City, Amazon's, Arlington , Virginia

☆ Recent updates for Amazon return to office policies
▼ + stars: | 2023-08-23 | by ( Eugene Kim | ) www.businessinsider.com time to read: +11 min

Previous pronouncements about the revolutionary benefits of remote work have been replaced by vague, data-light arguments on productivity gains from being in the office. Apple, Meta, Bloomberg and Google all have gleaming HQs that would look very silly if those companies continued to embrace remote work. Insider has asked Amazon for comment on its RTO policy several times in recent months and the company has responded. AdvertisementAdvertisementAn internal guideline, obtained by Insider, listed Amazon office locations and the dates they are expected to be fully "ready" to support the RTO mandate. That's what some Amazon employees have done by mocking the company's RTO policy and its famous leadership principles.

Persons: Brad Glasser, there's, we've, Amazon's, LINDSEY WASSON, Andy Jassy, Slack, Beth Galetti, Al Drago, Paul Vixie, Andy Jassy's, Mike Hopkins, Hopkins, Elaine Thompson, snafu, they'd Organizations: Amazon, Tech, Meta, Bloomberg, Google, Seattle, Reuters, Amazon SVP, Human, Services, Company, Amazon Video Locations: Seattle, Seattle , Washington , U.S, Beth Galetti REUTERS, Seattle , New York, Houston, Austin , Texas

☆ The hidden consequence of the return-to-office crackdown — more workers will lose their jobs
▼ + stars: | 2023-08-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

The push to get workers back to offices could put millions of jobs at risk if people don't comply. What makes this even more difficult to swallow for Meta employees is just how quickly Meta's tone has changed. In June, they were informed about the need to come into the office three days a week from September 5, per The Information. AdvertisementAdvertisementAmazon is making a similar play to Meta, with a return-to-office strategy that involves scare tactics. But since few people can afford to be out of a job right now, employers may get their way.

Persons: they'll, Zuckerberg's Meta, Lori Goler, Goler, Andy Jassy's, Insider's Linette Lopez Organizations: Labor, Stanford University, University of Chicago, MIT, ITAM University, Meta, Wall, Deloitte, Workplace Intelligence Locations: Silicon Valley, Silicon, Wall, Mexico, East Coast

☆ Amazon stock rallies after blowout quarter
▼ + stars: | 2023-08-04 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon shares rallied 8% on Friday, a day after the company reported blowout second-quarter earnings and issued upbeat guidance. Amazon notched its biggest profit beat since 2020, boosted by CEO Andy Jassy's aggressive cost-cutting efforts. For the third quarter, Amazon said it expects sales of between $138 billion and $143 billion, topping consensus estimates of $138.25 billion, according to Refinitiv. Wall Street cheered the results, lauding the strong results for Amazon Web Services and improving retail margins. Morgan Stanley analysts characterized the shift as the "next retail flywheel" for Amazon.

Persons: Andy Jassy, Andy, Bernstein, Morgan Stanley, — CNBC's Michael Bloom, CFRA Organizations: Amazon.Com Inc, Amazon, Revenue, Analysts, Amazon Web Services, Amazon executives Locations: Seattle , Washington , U.S, Refinitiv, America

☆ CNBC Daily Open: Amazon surges as Apple stumbles
▼ + stars: | 2023-08-04 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. However, overall sales fell 1% year over year to $81.8 billion, with iPhone, iPad and Mac revenue all dropping. Defense stocks on the offenseSouth Korean defense stocks have shot up over the past 12 months, with Hanhwa Aerospace surging 66% year to date. Interest in South Korean arms have increased because of Russia's invasion of Ukraine and escalating tensions on the Korean Peninsula.

Persons: Andy, Australia's, Morgan Stanley Organizations: CNBC, Apple, Amazon Amazon, Treasury, Big, Defense, Hanhwa Aerospace, China Companies Locations: Asia, Pacific, South, Ukraine, South Korea, China, India

☆ Amazon cuts jobs at Fresh grocery stores
▼ + stars: | 2023-07-26 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Amazon is cutting some jobs at its Fresh grocery stores, CNBC has confirmed. The company said it's restructuring the in-store staffing and operations model at its Amazon Fresh stores in the U.S., and as a result is eliminating its "zone lead" role. Amazon has been determined to crack the grocery segment since the launch of its Fresh delivery service in 2007. Earlier this year, Amazon said it would close some Fresh and Go stores as part of CEO Andy Jassy's effort to rein in costs. The job cuts at Amazon Fresh come after the company initiated its most expansive layoffs in its history, eliminating roughly 27,000 employees since late last year.

Persons: Jessica Martin, we've, Andy Jassy's, Jassy Organizations: CNBC, Amazon, Washington Post, D.C, Foods Locations: U.S, Washington

☆ Bull case for Amazon is that AWS numbers improve next quarter, says Deepwater's Gene Munster
▼ + stars: | 2023-07-06 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBull case for Amazon is that AWS numbers improve next quarter, says Deepwater's Gene MunsterGene Munster, Deepwater Management managing partner, joins 'Last Call' with reaction to Amazon CEO Andy Jassy's interview with CNBC.

Persons: Deepwater's Gene Munster Gene Munster, Andy Jassy's Organizations: Deepwater Management, CNBC

The bank hiked its price target to $154 from $139, which implies 24.7% upside from where shares closed on Friday. "We were encouraged by CEO commentary that retail margins could improve beyond pre-pandemic levels (4-5% in US)," wrote analyst Justin Post. "In 1Q, Amazon US retail margins were up 340bps y/y, one of the best quarters in the company's history for y/y margin improvement," Post added. Post thinks that, based on margin improvement year-to-date, metrics showing strong leverage and management's commentary, Amazon's 2024 U.S. retail margins could reach a range of 4% to 5%. The analyst noted that a 22% year-over-year decline in U.S. retail gasoline prices should aid retail margin improvement.

Persons: there's, Justin Post, Andy Jassy's, Amazon's, — CNBC's Michael Bloom Organizations: Bank of America, Amazon, Shipping

☆ Amazon's North America fulfillment head is leaving
▼ + stars: | 2023-06-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

A worker sorts out parcels in the outbound dock at Amazon fulfillment center in Eastvale, California on Tuesday, Aug. 31, 2021. One of Amazon 's top operations executives is leaving the e-retailer, the company confirmed. Melissa Nick, a vice president of North America customer fulfillment, will depart the company June 16, Amazon said. Nick reported to Yonatan Gal, a vice president in charge of overseeing Amazon's fulfillment supply chain, equipment maintenance and repairs, as well as fulfillment execution, in North America, according to internal company documents viewed by CNBC. Chris Vonderhaar, a vice president in charge of Amazon Web Services data centers, is leaving the company, GeekWire reported on Monday.

Persons: Melissa Nick, Amazon, Nick, Barbara Agrait, Melissa, Yonatan, Stefano Perego, John Felton, Amazon's, Andy Jassy's, Andy Jassy, Chris Vonderhaar, GeekWire, Jay Carney, Dave Clark Organizations: North, Amazon, CNBC, Amazon Web, Airbnb, Amazon Logistics Locations: Eastvale , California, North America, Europe

☆ Moderna's billionaire CEO draws criticism for earning nearly $400 million in stock options last year, and then getting a raise on top of it
▼ + stars: | 2023-04-29 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

French businessman Stéphane Bancel made $393 million in stock options in 2022, according to securities filings. Bancel, 50, also owns stocks valued around at least $2.8 billion, and received a 50% raise from 2021 to 2022. Moderna's chief executive officer Stéphane Bancel raked in about $393 million in 2022 thanks to stock options, and then received a raise on top of it — compensation that's giving some analysts pause. In addition to exercising his stock options in 2022, 50-year-old Bancel earned a $1.5 million salary — a 50% jump from 2021, according to securities filings from March. Meanwhile, Amazon CEO Andy Jassy's pay dropped from $212 million in 2021 to $1.3 million in 2022 due to receiving any stock awards.

☆ Earnings playbook: Your guide to a busy week of earnings, featuring Meta and Amazon
▼ + stars: | 2023-04-24 | by ( Fred Imbert | ) www.cnbc.com time to read: +13 min

What history shows: GM has reported a better-than-expected bottom line in 29 of the last 30 quarters, per FactSet. McDonald's is set to report earnings in the premarket, with management slated to hold a call at 8:30 a.m. What history shows: History shows Google's parent company beats earnings expectations 68% of the time, with the stock averaging a gain of 1.6% on earnings day, per Bespoke. Meta Platforms is set to report earnings after market close, followed by a conference call at 5 p.m. What history shows: Bespoke data shows Intel beats earnings expectations 77% of the time.

☆ Walmart says its CEO earned 933 times its median employee's pay last year
▼ + stars: | 2023-04-21 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Walmart CEO and President Doug McMillon received total compensation of $25.3 million in the last fiscal year. In other words, McMillon got roughly 933 times the median compensation of a Walmart employee. The increase was met with mixed reactions from Walmart employees, as many said they were already making above $14 per hour. Though the pay difference between McMillon and his employees is above that average, Walmart hasn't cracked the top 20 for biggest pay gaps between CEOs and workers. Are you a Walmart worker?

Amazon on Tuesday began laying off some employees in its advertising as part of CEO Andy Jassy's effort to rein in costs, the company confirmed. Jassy last month announced Amazon would lay off 9,000 employees, on top of the 18,000 cuts already announced last November and in January. In March, Jassy said the latest round would affect employees in Amazon's advertising, cloud computing, Twitch livestreaming and human resources divisions. Importantly, I want to acknowledge and thank our impacted colleagues for the work they have done on behalf of Amazon Ads customers. PaulWATCH: Watch CNBC's full interview with Amazon CEO Andy Jassy on message to investors, new AI tools and stock price

☆ Here are Monday's biggest analyst calls: Tesla, Netflix, Zoom, Biogen, Okta, Amazon, HP Inc. & more
▼ + stars: | 2023-04-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan upgrades HP Inc. to overweight from neutral JPMorgan said in its upgrade of HP Inc . that it sees "resilient revenue and margins." JPMorgan upgrades Ollie's to neutral from underweight JPMorgan said it has more confidence in management's same-store sales guide. JPMorgan downgrades Dell to neutral from overweight JPMorgan said in its downgrade of Dell that HP Inc. is better positioned right now. JPMorgan reiterates Amazon as overweight JPMorgan said it came away "incrementally positive" from Amazon's investor letter last week. JMP downgrades Penn to market perform from market outperform JMP downgraded the stock mainly on valuation.

☆ BlackRock CEO Larry Fink's pay dropped by 30% to $25 million in 2022, making him the latest corporate leader to take a pay cut amid recession fears
▼ + stars: | 2023-04-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

BlackRock CEO Larry Fink took a 30% pay cut last year, pocketing a total of $25.2 million. Apple's Tim Cook, Goldman Sach's David Solomon, and Google's Sundar Pichai are other CEOs taking pay cuts. Fink — who co-founded BlackRock in 1988 — made $36 million in 2021. While Fink's pay — before and after his 2022 pay cut — is still quite significant, it's far from the top of the CEO pay scale in the US. Amazon CEO Andy Jassy's pay dropped to $1.3 million in 2022 from $212.7 million in 2021, Insider reported Friday.

☆ Amazon CEO Andy Jassy's total pay plummeted in 2022 — but there's more to it than meets the eye
▼ + stars: | 2023-04-15 | by ( Hallam Bullock | ) www.businessinsider.com time to read: +4 min

AWS CEO Andy Jassy, who is set to become Amazon CEO, helped oversee the cloud unit's rise. Amazon CEO Andy Jassy's total compensation plunged last year to $1.3 million. It may still seem like a lot of money, but in 2021, Jassy's total pay was over $200 million. Also, keep in mind that Jassy's base salary in 2022 was $317,500, an 80% leap from $175,000 in 2021. Musk's reign of chaos at Twitter may have saved it from collapse, but there's a long way to go.

☆ Amazon CEO Andy Jassy took a massive pay cut in 2022, making $1.3 million. He made over $200 million in 2021, including stocks.
▼ + stars: | 2023-04-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Amazon CEO Andy Jassy's pay was just $1.3 million in 2022 — a huge drop from $212.7 million in 2021. Amazon CEO Andy Jassy's total compensation plunged last year. It's a massive drop from the $212.7 million he received in 2021 when he got promoted to CEO. Microsoft CEO Satya Nadella was paid a total compensation of $55 million in 2022. Meanwhile, Jeff Bezos, the founder and executive chair of Amazon, received $1.68 million in total compensation in 2022 — the same amount he received in 2021 and 2020.

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