Amazon is doing better than expected, but the stock is falling

Earnings per share during the quarter were $2.78, compared with $1.64 analysts had expected on average, according to research firm LSEG, CNBC reports.

Revenue came in at $181.52 billion, while analysts had expected $177.3 billion.

Cloud services revenue was $37.59 billion, higher than the expected $36.64 billion. Cloud services revenue rose 28 percent from a year earlier.

In the current quarter, Amazon expects sales of between $194 billion and $199 billion, while analysts had expected $188.9 billion.

Amazon shares fell 1.5 percent in after-hours trading on the New York Stock Exchange.