Amazon's Q1 Results Beat Expectations, Stock Reacts.

Amazon reported Q1 earnings that beat Wall Street targets due to cost-cutting measures, but its stock fell in extended trading as management's commentary raised concerns over a slowdown in cloud computing growth. Amazon Web Services' Q1 sales rose 16%, but growth slowed from 37% in the year-ago period, and management said AWS is seeing slower growth in April. Analysts had projected AWS growth of 15% for the March quarter. Amazon's Q2 revenue outlook is in line with analyst estimates, but its Q2 operating income outlook is below expectations.