Amazon reports solid Q1 revenues of $22.72B and unveils AWS revenues for the first time

Amazon announced quarterly earnings per share of ($0.12) on revenue of $22.72 billion today. The company saw a net loss of $57 million.

Analysts expected earnings of ($0.13) on revenue of $22.39 billion — toward the upper end of Amazon’s Q1 expectations. And in this quarter Amazon broke out its web services division for the first time. “Amazon Web Services is a $5 billion business and still growing fast — in fact it’s accelerating,” said chief executive Jeff Bezos in the earnings report.

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Stock popped up nearly 7 percent in after-hours trading before dropping back down.

As far as web services are concerned, Amazon made three major moves this quarter. First it launched WorkMail, its own email client that can also act at the backend for others. Then it picked-up 2lemetry, an Internet of Things startup, potentially to link connected devices to applications. Finally, it dramatically lowered the price of its cloud storage service to $60 a year for unlimited storage for any type of digital file.

Internationally sales were down slightly, despite expansion into new markets. Sales of media and electronics came in at $7.7 billion, down from $7.8 billion the year before.

Amazon pushed further into its international market with the expansion of its e-book subscription into Mexico and Canada and Fire TV Stick to Austria, Germany, and U.K. The company also begun testing drone delivery services in Europe, a move in direct in response to the U.S. FAA’s failure to accommodate Amazon’s flight plans.

In terms of home products, the company launched a platform for ordering on-demand home repair; a physical button that lets you automatically reorder items when you press it; and expanded its Echo home ecosystem.

Next quarter Amazon expects revenues between $20.6 billion and $22.8 billion and an operating income between $(500) million and $50 million.