Amazon.com, Inc. (ticker: AMZN ) reported first-quarter earnings after the bell on Thursday, and the results were far better than expected on all major metrics. AMZN stock jumped 4 percent in after-hours trading following the release.

Shares of the Seattle-based e-commerce giant had been on a remarkable, multiyear run heading into Thursday’s report. The one-, five- and 10-year trailing gains on Amazon stock read like an investor’s fantasy, with shares rallying 48 percent, 305 percent and 1,367 percent over the respective periods.

[Read: The 10 Most Anticipated IPOs of 2017 .]

It was more of the same great news for Amazon shareholders in the aftermath of the Q1 report, as the remarkable bull run continues on the heels of another standout quarter.

AMZN Q1 earnings by the numbers. First-quarter revenue rose 23 percent to $35.71 billion, beating the $35.31 billion analysts expected by a cool $400 million.

Earnings per share, meanwhile, rose by 38 percent, clocking in at $1.48, crushing the $1.13 EPS figure analysts expected.

In its statement, Amazon emphasized its increasing focus on India, where it's firing on all cylinders in an effort to get in on a huge market with massive untapped potential. Since launching nine months ago, the selection of products available via Prime has grown by 75 percent in the country, and the company has already announced 18 Indian original TV series.

How to Build a Stock Portfolio

Amazon Web Services, the cloud computing service that has been an integral part in helping Amazon achieve sustained profitability and growth, continues to grow, if at a decelerating rate. AWS revenue grew 43 percent year over year to $3.66 billion in Q1. A year ago, it was growing at a 64 percent clip.

Still, that 43 percent growth is nothing to scoff at, especially considering AMZN decided to actually cut AWS prices in November.

Even after the price cut, the most important thing about AWS is the enviable operating margins, which allow the company to take risks and try out things its competitors can't in other parts of its business.

"Combine international expansion with increasing Prime subscribers and AWS profit margins – you can see why most analysts are bullish," says Chaitanya Chandrasekar, the CEO and co-Founder of QuanticMind. “Amazon is on a freight train to hit $1,000 a share."

[See: 7 of the Best Cheap Stocks to Buy Under $10 .]

Looking forward. Amazon guided for second-quarter net sales between $35.25 billion and $37.75 billion, which translates to a growth rate between 16 and 24 percent. At the midpoint, Amazon’s guidance works out to projected Q2 revenue of $36.5 billion, which was indeed lower than the Q2 revenue of $36.84 billion that Wall Street had been forecasting.

Guidance, however, is often conservative, which means that consensus estimate is far from unobtainable.

While AWS growth continues to decelerate, that’s to be expected, and it still remains a large part of the growth story for Amazon stock going forward.

Taking a page out of Twitter 's ( TWTR ) book, Amazon will also stream Thursday Night Football games in 2017 for its Prime Video members.

5 Reasons to Invest in the Stock Market

Some experts – like K C Ma, professor of finance at Stetson University – think Alibaba ( BABA ) CEO Jack Ma’s friendly relationship with President Trump has motivated Amazon to step up its global ambitions.

It has "prompted Amazon to speed up its timetable to expand the Prime Video service and AWS data centers in markets like India and China," K C Ma says.

In other news, the Echo line of devices has continued to be a huge hit, and despite competition from the likes of Alphabet ( GOOG , GOOGL ), Amazon continues to build out the family.

On Wednesday, the company announced the Echo Look, which is powered by the full capabilities of the Alexa personal assistant – but also includes a camera to let you take photos and short videos of yourself. You can store and share photos, model and try on clothes and get a 360-degree look at your outfit – and even ask Alexa which style looks better on you.

[See: Artificial Intelligence Stocks: 10 Companies Betting on AI .]

It retails for $199, and if the company sells as many Looks as it did regular Echos, AMZN stock owners will have more celebrating to do.

9 Ways to Buy Stocks That Everyone Needs

9 Ways to Buy Stocks That Everyone Needs

Compare Offers

Compare Offers