Core Viewpoint - The company reported a revenue of $155.7 billion, a 10% year-over-year increase, and an operating profit of $18.4 billion, reflecting a 20% growth, indicating strong business performance and customer engagement [1][14]. Group 1: Retail Business Performance - The retail business has seen strong consumer resonance due to ongoing efforts in product selection, value, and delivery speed, with new brand partnerships enhancing the shopping experience [1][2]. - The company hosted promotional events globally, saving customers over $500 million during various seasonal sales, indicating a focus on customer value [2]. - The company achieved record delivery speeds for Prime members, with the highest number of same-day or next-day deliveries ever recorded [3]. Group 2: Supply Chain and Fulfillment - The company has made significant progress in enhancing the efficiency and cost-effectiveness of its fulfillment network by regionalizing fulfillment centers, allowing for faster delivery and reduced costs [2][3]. - A new inbound architecture has been launched to increase the share of products allocated to fulfillment centers, improving delivery speed and lowering service costs [2]. Group 3: Advertising and AWS Growth - Advertising revenue reached $13.9 billion, a 19% year-over-year increase, showcasing strong growth across the advertising product portfolio [6][17]. - AWS achieved a 17% year-over-year growth, with an annualized revenue run rate exceeding $117 billion, indicating robust demand for cloud services [7][17]. Group 4: AI and Technological Advancements - The company is heavily investing in AI, with numerous applications being developed internally and a focus on providing cost-effective AI capabilities for businesses [8][9]. - New AI models and services, such as Amazon Bedrock and Trainium 2, are being deployed to enhance AI capabilities and reduce costs for customers [10][11]. Group 5: Financial Overview and Future Guidance - The company expects second-quarter net sales to range between $159 billion and $164 billion, with operating profit projected between $13 billion and $17.5 billion, reflecting cautious optimism amid macroeconomic uncertainties [19][20]. - The first quarter's net profit was $17.1 billion, including a $3.3 billion pre-tax gain related to an investment, indicating strong financial health [18].

Core Viewpoint - Amazon's quarterly revenue and profit met expectations, but the guidance for the second quarter is less optimistic, marking the first major company to highlight tariff impacts on performance [1][8]. Financial Performance - Net sales reached $155.67 billion, a 9% increase from $143.31 billion year-over-year, with a 10% increase excluding currency fluctuations [1]. - Net profit was $17.13 billion, up 64% from $10.43 billion year-over-year, with diluted earnings per share at $1.59, compared to $0.98 a year ago, although below the consensus expectation of $18.88 billion [1]. - Total operating expenses rose to $137.26 billion from $128.01 billion year-over-year [2]. Business Segmentation - Product net sales were $63.97 billion, an increase from $60.91 billion year-over-year [3]. - Service net sales reached $91.70 billion, up from $82.40 billion year-over-year [4]. Regional Performance - North America segment net sales were $92.89 billion, an 8% increase year-over-year, with operating profit of $5.84 billion, up 17%, and an operating margin of 6.3%, compared to 5.8% a year ago [5]. - International segment net sales were $33.51 billion, a 5% increase year-over-year, with operating profit of $1.02 billion, up 13%, and an operating margin of 3.0%, compared to 2.8% a year ago [5]. - AWS cloud services net sales were $29.27 billion, a 17% increase year-over-year, with operating profit of $11.55 billion, up 23%, and an operating margin of 39.5%, compared to 37.6% a year ago [5]. Cash Flow - Operating cash flow for the 12 months ending March 31, 2025, was $113.9 billion, a 15% increase year-over-year, while free cash flow decreased by 48% to $25.9 billion [5]. Strategic Developments - The ASiC chip Trainium 2 is being launched, offering 30%-40% better cost-performance compared to GPU-based instances [6]. - The Agent Amazon Nova Act aims to improve the accuracy of multi-step action-oriented agents from 30%-60% to over 90% [6]. - Concerns regarding tariffs and trade policies, as well as fears of economic recession, may lead to adjustments in performance guidance, which was not mentioned in the previous quarter's guidance [6]. Future Guidance - For Q2 2025, Amazon expects net sales between $159 billion and $164 billion, with operating profit projected between $13 billion and $17.5 billion, indicating a year-over-year revenue growth of 7% to 11% [8]. - The CEO emphasized a continued focus on expanding AI capabilities and preparing for potential tariff scenarios, marking the company as the first major entity to signal tariff impacts [8].

4月 29日，阿里最新模型Qwen3正式发布，模型采用开源方式，全球开发者、研究机构和企业均可免费在Hugging Face、魔搭社区等平台下载模型并商 用，也可以通过阿里云百炼调用Qwen3的API服务。 大模型本质： Qwen3采用混合专家（MoE）架构，总参数量235B，专家模型数量128个，活跃参数量22B，活跃专家模型8个（ 和Llama4 架构类似，降低推理环节成 本）。 Qwen3总参数仅为DeepSeek-R1的1/3，性能测评全面超越R1、OpenAI-o1等全球顶尖模型。在代码能力测试LiveCodeBench和Codeforces两个榜单中， Qwen3高于所有其它模型，包括当前最强的Gemini2.5-Pro。 此外，Qwen3的30B参数MoE模型实现了10倍以上的模型性能杠杆提升，仅激活3B性能超过了上代Qwen2.5-32B模型性能，Qwen3-4B也能达到与Qwen2.5- 72B-Instruct相当的表现。 预训练 Qwen3预训练数据集规模几乎是上一代两倍，从18万亿个token扩展到了36万亿个token。为了确保数据质量，团队利用Qwen2.5-VL提取文档文本，并通 ...

事实证明，机构股还是机构股。它走不出tesla这种游资网红股的气势，能做到丧事喜办。稀烂的业绩，鬼头鬼脑的电话会议问答，还能做到气势如虹的暴 涨（类似的还有hood 等），都是网红待遇，A股的投资者最熟悉此类操作了。 不过从tesla pltr这些散户网红股看。纳指有点交易强的意思哦。就是纯博弈交易，业绩已经不重要了。昨天交流过的外资也是这个说法，都在博弈仓位， 博弈套利。所以纯博弈股是很强的。至少市场的风偏在变好。当然机构股还是机构股，全球数万亿美金各种资金博弈出来的结果，还是理性观望的。我记 得上一轮 调整2022年 6月巴菲特进场后，10月纳指才真正见底。但是2022.3-2022.6月中间可以博弈4轮涨跌，6-11月还能博弈4轮涨跌。 昨天白天我又仔细研读了google 财报和会议两遍：确定除非瞎了，它确实不应该涨。不是一份舒服的答卷，细节看昨天那篇。昨天盘前+6%。我都一度都 在思考，美股也要丧事喜办了？股股都是tesla？ 谷歌(ALPHABET)-A < w GOOGL.O 161.960 量 5602.2万 股本 121.90亿 市盈 17.8 万得 盘口 2.680 1.68% 换 0.45 ...

总结分析：1）裁员带来营业利润率显著提升。上个季度32%，这个季度33%。 营业利润率得益 于健康的收入增长，薪酬增长速度放缓。 2） 拒绝谈关税的影响。CEO Sundar Pichai 拒绝 "推测关税的潜在影响"，" 取消 最低关税豁免将"显然 对我们在 2025 年的广告业务造成轻微阻力，主要来自"亚洲零售商。 3）资本开支继续保持750亿全年不变。直言折旧来临，压力增大。 数据： 谷歌25Q1谷歌实现收入902.3亿美金，同比+12%、环比-6.5%，超市场预期（892亿美金）； 25Q1实现净利润345.40亿元，同比+46.0%、环比+30.2%，超市场预期（248.5亿美元）。 主要还是利润率提升。 1）谷歌广告业务25Q1实现收入668亿美元，略超市场预期（664亿美元），其中，谷歌搜索、Youtube 广告、谷歌Network实现收入507.0、89.3、72.6亿美元，分别同比+9.9%、+10.4%、-2.1%，由于季节效 应影响（电商零售），环比均下滑。AI摘要（Overview）拉动搜索业务增长，目前月活用户为15亿。 2）谷歌subscriptions, platforms, a ...

百度上线"心响"App 号称复杂任务全托管超级AI智能体 心响App整合了地图类MCP功能，提供行程自动标注和出行打车推荐服务； 在健康领域，系统通过调度多位"医生AI分身"进行联合会诊，提供全面的健康建议； 法律服务方面，多个律师AI分身组成的"律师智囊团"协同为用户提供高质量的法律咨询。 还是那句话 mcp协议统一之后 应用的边界打开了 mcp功能嵌入已经是大势所趋，就是后端如何分成的事儿了。 医疗 法律 吃喝玩乐 是目前各家首先能想到的agent落地场景。 点评： 百度还是想做通用的agent。 ...

上周一天40个起。 如题！ 今天算少的 ...

2. 特朗普称美联储应该降低利率，且他无意解雇美联储主席鲍威尔，还表示希望鲍威尔在利率问题上采取更加积极的行动 3. 贝森特周二在华盛顿特区由摩根大通主办的私人投资者峰会上表示，与中国的贸易战是不可持续的，"没有人认为目前的现状 是可持续的"，贸易战局势可能会在 "不久的将来" 缓和。他还坚称，特朗普政策的目标 "不是脱钩"，但与中国谈判可能是 "一 场艰苦的战斗"，双方都 "不认为现状是可持续的"。 4. 2025 年 4 月 23 日，美国白宫新闻秘书莱维特表示，特朗普希望美元继续保持世界储备货币地位。 以上回应了近期大家关注的中美关税，美元信用，联储独立性，安抚意味浓厚。 美元，美股即刻反弹，盘后期货继续涨；目前中美高关税实质禁运的前提下，已经没有更差了，置之死地而后生，过程肯定是曲 折的，后面只会越来越来好，有没有被错杀的机会？ 1. 川普发表关税缓和言论，抛出橄榄枝： ...

黄金我是服的。虽然一直看好，但能这么疯。 已打服，很想知道拿天量美债，没有黄金的巴菲特怎么看。. 首先是美股的弱，应该的 大厂业绩预计都不行。 美债的崩盘（美债的防风险能力昨晚表现的还不如大饼，神奇而诡异的世界，估计特朗普都懵的，原来 还能随便发人造黄金-币，比美债还强，那让美债崩吧，毁约算了。） COMEX黄金 W GC.CMX 3425.3 7088 总手 昨结 344 3435.1 现手 4 +0.70% 开盘 +23.9 最高价 3449.2 持 仓 0 3493 外 盘 仓 最低价 辑 -34.99万 内 盘 3434.4 3595 日K 分时 周K 月K 五日 車名 (0) 叠加 设均线 前复权 3505.6 -3449-2- 3146.6 2 公众号 · 小熊跑的快 2844.1 ...

4月18日晚间，字节跳动扣子空间开启内测，定位通用Agent。与其他类似产品如manus一样，扣子空间采用了邀请码制。平台上，用户可以选择精通各项 技能的通用实习生，也可以选择行业的领域专家，通过与 AI 的互动完成工作任务。 据官方介绍，扣子空间主要有以下特点： 2） 拥有 专家Agent生态 ：华泰A股观察助手可以为用户进行每日早报生成、针对股票分析问题、答疑解惑；用户研究专家可以协助进行用研资料深度分 析，获取更多用户洞察。 3） 探索/规划双模式 ，人机协同完成高难度任务：用户如果想一步到位输出，可以选择探索模式、如果想亲自把控每个步骤，可以选择规划模式。 提问： 现在要写一篇关于扣子空间的内容 ， 请帮我规划一下，告诉我该从哪些方面入手。 扣子空间 第一步 会将 需求提炼出来，整理成提示词 ， 并说：第一步要先收集信息，第二步要规划文章逻辑，第三步梳理逻辑，最后一步结构化输出， 这些提示词我可以改，也可以直接点开始。 执行步骤 比较清晰 ，按照上面的提示词 逐步执行 ；不过整个过程时间比较长，因为规划步骤多 ，执行时间约10分钟 。 执行过程中，用户能 清楚看到 每一步的 思考 过程，搜索范围和深度 ...