Amazon (NASDAQ: AMZN) posted its first-quarter earnings on April 30. The e-commerce and cloud giant's revenue rose 13% year over year to $143.3 billion, beating analysts' estimates by $764 million, as its diluted earnings more than tripled to $0.98 per share and cleared the consensus forecast by $0.15.
Amazon's stock rose slightly after that earnings beat, but does it still have room to run after rallying 70% over the past 12 months? Let's see why investors are bullish on Amazon again -- and if it can head even higher over the next few quarters.
Image source: Amazon.
Source Fool.com