Amazon's latest quarterly results reveal a significant increase in earnings and net sales, driven largely by robust demand for cloud services. For the first quarter ending March 31, the company reported earnings of $30.3 billion or $2.78 per share, up from $17.1 billion or $1.59 per share in the same quarter last year. Net sales rose 17% to $181.5 billion, compared to $155.7 billion previously. Amazon Web Services (AWS) revenue reached $37.58 billion, surpassing analyst expectations of $36.6 billion and showcasing a 28% growth rate, the fastest in 15 quarters. However, despite these strong results, Amazon's stock price fell nearly 2% in after-hours trading, primarily due to concerns about the company's ambitious $200 billion capital spending plan focused on artificial intelligence, robotics, and other technologies. Additionally, rising costs from tariffs and shipping pressures may impact future performance. Looking ahead, Amazon forecasts net sales between $194 billion and $199 billion for the current quarter, indicating continued growth in cloud services and e-commerce.