Great first quarter for Amazon (AMZN.) On Thursday, April 25, Amazon reported earnings of $7.09 a share, $2.43 a share better than Wall Street expected. The company's cloud unit, AWS, reported a 42% increase in revenue, 59% jump in operating income and a surge in operating margin to 28.9%, up 320 basis points. The "other" segment, which is mostly advertising saw revenue gain 34% to $2.72 billion. EMarketer estimates that Amazon's digital advertising business is now the third largest in the United States trailing only Alphabet's Google and Facebook. But looking out further there were signs that the company might be moving back toward a period of of heavy investments that will cut into income.