Going into this earnings season, analysts had downgraded their expectations for S&P 500 companies — but the Magnificent Seven kept slaying. Yesterday, AmazonAMZN

revealed its earnings report, showcasing a 13% revenue increase, driven by its most profitable and rapidly growing segments.

• Following in the footsteps of other tech giants, Amazon reported strong advertising revenue, buoyed by ads on Prime Video, resulting in a 24% sales boost to $11.8B.
• Amazon Web Services (AWS), the company’s cloud computing arm, handily surpassed analyst forecasts thanks to higher cloud and AI spending. AWS sales soared by 17% to $25B, crossing the milestone of $100B in annualized revenue for the first time.

But still no dividend… Analysts hoped that Amazon, which has more than tripled its net income year-over-year and increased its operating cash flow to nearly $100B, would declare its first-ever dividend. That would’ve put the company alongside other major tech players like MetaMETA

and AlphabetGOOGL

, who recently announced their first dividend payments. However, Amazon seems resistant to peer pressure… but with a double-digit growth forecast for Q2, investors have plenty to get excited about. Plus, there’s always next earnings season.