Amazon released earnings this evening. A huge beat on the earnings front unlike last quarter. I have updated the various slides and note 3 main themes:

Revenue growth rates accelerated from last quarter in all categories but AWS which maintained a 42% growth rate
Physical stores are now reported and account for 3% of overall sales
International is kicking in posting a 29% growth rate (second highest)

Whilst last quarter was weak, Amazon smoked the profit forecasts of Wall Street this quarter. The stock is trading up 7% as of press time. All portions of the business continue to grow and I believe the investments in international markets like India are starting to materialize. With that said, the massive investments are having an impact on cash flow...but not nearly enough to warrant any worries.