• Amazon reported a boost in quarterly profits, with net income increasing to $7.8 billion in the first quarter of 2022, up from $8.1 billion in the same period last year. However, the company's revenue of $116.4 billion fell short of Wall Street's expectations, as the e-commerce giant faced supply chain issues and increased costs.

• The company's cloud computing division, Amazon Web Services (AWS), continued to be a strong performer, with revenue growing 37% year-over-year to $18.4 billion. AWS accounted for a significant portion of Amazon's overall profits, highlighting the importance of the company's diversification beyond just e-commerce.

• Amazon's guidance for the second quarter of 2022 was also disappointing, with the company forecasting net sales between $116 billion and $121 billion, below analysts' estimates. The company cited inflationary pressures, the war in Ukraine, and the ongoing impact of the COVID-19 pandemic as factors contributing to the weaker outlook.