Amazon (AMZN) stock rose in extended-hours trading after topping Wall Street estimates in its first quarter earnings, largely due to the revenue generated by the company's cloud computing business, Amazon Web Services (AWS).

On the retail side, Amazon's second quarter outlook fell below expectations. The company projected its net sales to land between $144 billion and $149 billion, falling short of the Street's estimate of $150 billion.

Despite the projected dip in consumer spending, Brad Smith and Seana Smith emphasize the growth of AWS and AI innovations that offset Amazon's lackluster e-commerce and retail performance.

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This post was written by Melanie Riehl