♪ ♪ >> i am brad stone in san francisco, in for emily chang. this is "bloomberg technology." in the next hour, uber ipo details. the ride-hailing start up plans to offer shares from $44 to $50. plus, amazon reports first-quarter earnings. how did the e-commerce giant measure up on cloud, ad sales and many other businesses?

and the future of mobility. butal footprint expanding, competition as well. we speak with chief operating officer joe kraus. our top story today. uber plans to price its ipo between $44 and $50 per share, which could value the ride-hailing company at up to $90 billion. for more,, i want to bring in eric newcomer, who helped to break the story. $90 billion. that's not the $120 billion bankers were promising. what is happening? eric: i think wants to set conservative expectations. they watched lyft, pinterest. pinterest setting below its last private valuation and lyft trading below the ipo price. they want to make sure they get the narrative right, and they would rather take the hit for being close to the last private round rather than have to backtrack later on. brad: it is obviously early.

the price range will probably go up. but can you discern anything about the enthusiasm among among the bankers for uber's other businesses like uber eats? eric: uber eats is a real question mark. ofrdash, with the help softbank money, has competed with uber. it now has a much bigger asterisk by it. questions around uber eats are tamping expectations for uber's ipo ever so slightly. brad: a lot of competition all over the world. you mentioned lyft. a ofmuch is the lyft sag the last month weighing on the mind of uber executives and bankers? eric: they are certainly watching it, because there is no obvious pop f-- comp. lyft is the best point of

comparison. on the other hand, uber has a much more global story. services in many parts of the world, and stakes if it doesn't. uber eats, even if it is not growing like a like, is still growing. there's a lot of reasons to compare with lyft, but uber wants to remind people they are a different company. brad: eric newcomer. thank you, and good job breaking the news. amazon reported quarterly profit exceeding analyst estimates, demonstrating the company's focus on cloud computing, advertising and other high-margin businesses continues to pay off. amazon also narrowed losses on international operations, helping to boost profits. however, it is not all good news. outlook for the second quarter is less stellar. revenue and income guidance are both a bit light. to discuss further, we're joined andichael packeter

branch sale. michael, you have been an amazon bull. lots to like. now a more profitable company that has historically been true, and yet some of the warning signs about future spending and future growth. what do you make of the quarter? michael: the upside, because they generated 43% margin, and they can't spend all that money. they have $25 billion of gross profit, and managed to only spend $20 billion of it. that's the story. this company has run out of things to spend money on. obviously they will keep building fulfillment centers, but not going to grow materially year-over-year, building the same 50 or 100 every year. money.e just minting the negative in the story, investors don't appreciate the third-party mix went up again. 50% of sales last year, 60% this

quarter using -- 58% of sales last year, 60% this quarter. it's a great margin story. investors get spooked by the guidance. but the stock was up about $100 in the last few weeks. remarkableally is a story. we think of this company as an online retailer but it is now primarily a third-party market place cloud computing company and increasingly advertising company. what does the quarter tell you? >> i think michael hit on the margin. revenue in line, margin double year on year. call margins can continue to double. you look at the big internet names, and they have declining margins. number whooogle, a are spending to keep up with amazon, so somewhat of a rare revenue growthf

decelerating but seeing margins improved. we think the biggest concern is felt thist still should be a 20% topline story. we think it is more reasonable to think mid to high teens, and with acquisitions 20% growth looking at the margin profile, that's driven off aws, the ad business and recurring some script in business, which will continue to compound -- a subscription business, which will continue to compound. you can sell a lot of low-margin deodorant, but you have a higher margin software businesses that will give investors more productive ability and -- around theity future of cash flow. brad: let's talk about the ad business. the growth rate year-over-year was about 34%. this was a business almost

doubling in size in previous quarters, so is there any reason business for ad amazon is slowing down, or are these accounting minutia? michael: i think it is perfectly correlated to the sum of online store sales and third-party services sales growth. add those categories together, that tells you the activity on arch ate, and se amazon is people looking for a coffee maker, and results will pop up just like looking for a coffee maker on google. they are getting paid for that, because purchase intent is nearly 100% when you are searching on amazon. it will be perfectly correlated to purchases on amazon, and anybody who models advertising growing significant he faster than that is modeling it wrong. brad: brent, i want to ask you about the international business. it has improved, but still a 9% growth rate and operating loss. how much of that can be traced to india, where amazon has made

a large investment, and some policies have changed around allowing non-indian sellers to operate? brent: the biggest blemish in the quarter was the international miss, relative to what the street was looking for. the north american business picked up the slack, if you will. international historically has been very hit and miss. as they expand into these markets, they are not the same dynamics as in the u.s. in australia, delivery speed isn't the same, so do they have to invest in new infrastructure to get delivery where they want? so the goals we would like to see are probably not, to michael's point about the business, youad cannot really straight-line the international business. it will be wonky. we think there is a termite's opportunity.

we have traveled to many of the countries they are in, and asked end-users about their experiences in japan, in europe, in south asia. there's clearly, this is where it is headed, placing more items subscriptions, services. the overall basket continues to grow, and will track what the u.s. did. right now, if you're looking for a blemish, it would be top-line, achieving international missing. the ad business, people believed it would grow faster than it did, but pretty minor relative to the overall earnings number. brad: michael, let's talk about the next quarter a little bit. estimates have come in a little light, but obviously spending is one thing investors pay a lot of attention to with amazon. so many growth cycles over the years.

what are the chances, do you think, that jeff bezos does find a way to spend all this capital, going into another period of hiring and expenditures, not only on new servers but new kinds of technologies? michael: i think that facebook and amazon and probably google have all this in common. they all promise to spend a ton of money, and then manage not to do it. you saw facebook drop their opex growth by 300 basis points. amazon just can't manage to deploy the capital. i expect google will do the same thing. i think there's a 0.01% chance that bezos manages to spend more than he takes in, and we suddenly see earnings decline. they crush.ow and they beat by $1 billion this quarter, and they will beat by $1 billion in perpetuity until the stock goes to $2500 and it

is fully priced in. so they are not going to spend this money. there are no initiatives that are stupid. no fire phone anymore. the only thing some people think is stupid is content spending, $1 billion for lord of the rings, but even that might work out. brad: ok. we have to leave it there. thill, pachter, brent thank you both for joining us. coming up, the chip sector has been on a ride since the start of the year, outperforming broader markets. we look at one major player, intel, next. this is bloomberg. ♪

brad: shares of intel are falling in after-hours trading,

as the chipmaker cut revenue for the full year, and ceo bob swan says the company is taking a more cautious view. to discuss, bloomberg cross asset reporter sarah ponczek, and in the studios nico grand. drop -- afterr hours drop, what is going on? nico: very little good news. the datacenter business at intel, which is making chips for the servers that help run the modern internet, computer networks, the same chips that big cloud computing companies like amazon, microsoft and google used to build out their presence around the world. that business has been sliding. we saw that last quarter, and we are seeing it again for the current period we are in. the problem for intel, this has been a very profitable business unit and a great source of revenue growth over the last decade. brad: another worry has to be

that the smartphone chip business, intel got out of that, and apple settled its dispute with qualcomm. are investors worried about that and what the future holds for intel? nico: intel was always much weaker when it comes to smartphone chips than qualcomm, so it wasn't going to be a huge part of the company's business unless they were able to turn that around. the expectation was always qualcomm and apple would settle, but it was just on what terms they would. itsaw as you said intel said would pull out of the business after qualcomm and apple decided to end litigation. in this quarter, what investors are looking to, they aren't going to see improvement intel promised in the datacenter business. bob swan told bloomberg earlier this afternoon that essentially it is taking longer than they anticipated for that demand pickup, because all of their major clients already have stockpiles of the chips. brad: sarah ponczek, you pointed

out the semiconductor indices have outperformed the s&p 500. is this a reversal? sarah: if you look at the philadelphia semiconductor index, it is pretty amazing, up 35% this year compared to the s&p up 17%. that's why going into this earnings season there has been such a focus on semiconductor stocks. the narrative has been that demand is waning, and yet even as company after company comes out and issues warnings, we haven't seen that turn around yet. we heard from texas instruments, their ceo issued a warning and we still saw the semiconductor index rise, texas instruments rise. now we have heard from intel, since had its worst day 2000. we will hear from qualcomm, the largest holding in the index. intel is the fifth-largest. we will have to see if there's a

straw that breaks the camel's back if we hear too many warnings. brad: more earnings i want to tel ask you about. wedbush,, one and analyst called it one of the top debacles of his career. he is i don't know if overstating. he is probably the most dramatic on the street with his statement, but look at analysts, and they are not happy right now. results,ok at tesla you have a record drop in deliveries, and one of their largest debt payments they had to pay down. that put cash balances, free cash flow at the lowest in three years, which is an issue for tesla. they have had such an issue becoming profitable, and elon musk keeps saying they will reach profitability eventually. but seeing numbers like these, it makes you wonder how long it will actually take. ahead of the earnings report, many on the street said that maybe the company, if they

held that conference on autonomous driving earlier to shed light on that rather than the numbers. looking at the numbers, we see $250, whichg below previously acted as support. the lowest since 2017. brad: elon musk now says there is merit to the idea of raising capital after saying for at least a year he wouldn't. nico, i want to touch quickly on microsoft at the doorway of a $1 trillion valuation. why was it a good quarter? for: it was not a debacle microsoft this quarter. the reason, there was broad-based growth at the company led by cloud computing efforts. we saw azure, its public cloud, down from lastch quarter. but it has continued to grow at massive rates. microsoft also got a boost from 365,ce products, windows

cloud products. the sentiment was high among smallors, even divisions of microsoft like the devices, which now makes makes off the fifth biggest pc maker in the u.s., even that did well. everything increased. brad: we could have three $1 trillion tech companies before long. sarah ponczek, nico grand, thank , thank you. we will speak with intel ceo bob swan on friday. coming up, amazon is expanding business in asia. how it is competing with alibaba amid trade tensions between china and the u.s. next. this is bloomberg. ♪

brad: as we discussed earlier, revenue from amazon web services jumped 41% in the first quarter. meanwhile, aws he's pushing deeper into the asian market. earlier this week, amazon's

cloud services division announced a new regional infrastructure center in hong kong as they grow business in china. alex young sat down with david ingalls in hong kong to discuss. alex: globally there's about $4 trillion spent on i.t. by enterprise based on our projections. about 10% is being spent more directly, on infrastructure capabilities. so it's still a very early stage. so $4 trillion is cloud. how big is china? alex: similarly, they have about 4 trillion renminbi in enterprise i.t. spending, 8% to 9% on the so-called cloud infrastructure. david: and you can't tell me what your market share is? alex: we cannot disclose that. we have been growing very

rapidly in the greater china region, enjoying high double-digit growth the last five years. toid: double-digit is closer 11% or 99%. are you closer to 11% or 99%? alex: really close to triple digit. let me put it that way. david: in terms of competition, you guys have the best offering, but who has the next best out there? alex: it is also coming from the customer. it depends on the customer, and customer isy the coming from. they have special needs, customers from diff and backgrounds or industry. we haveld say, because been operating cloud services almost 14 years, and have listened to customers over the last 14 years and built so much capability, which we continue to grow with thousands of smaller services.

the media industry, financial sectors, government sectors. the internet space, which is where we started the business. we continue to develop that, and also work with a lot of smart manufacturing. on, we haveearly been partnering with volkswagen. you.: my question to you don't want to grow just because the industry is growing. you want to grow faster. how do you compete in greater china, especially on the mainland? you are an american company. politics has been an issue surrounding tech. you convince a chinese customer it is safe to use your service? >> first of all, we are proud of what we have been doing in terms of how we protect customer data.

we put security, data privacy, data protection as our number one policy. from a technology, operational point of view, around the world, are one ofize we the best. business environment is a function of regulation in these markets. if a government agency in the will dots data, you what the law allows to prevent that client data from getting to the government's hands. how does that dynamic of light in china if the government wants client data? i would imagine sanctity of data is paramount. alex: wherever we operate, whether it is in china or the u.s. or in europe or in hong kong, we have to comply with local laws and regulations. when a government agency or regulator comes in with a

legitimate subpoena or whatever, we will look at that, we have a legal team to look at that, and see if it is legitimate. law, is not against local we will inform our customer at the same time, so that we give the customer a time window to defend themselves, and then it is more on the process. brad: that was amazon web services managing director of greater china, alex yung. last two, over the years scooter startups like lime have disrupted transportation and ignited an investor frenzy. but can they compete now that uber and lyft are hitting the public market? and bloomberg technology is livestreaming on twitter. check us out @technology, and follow our global breaking news network, tictoc, on twitter. this is bloomberg. ♪

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♪ brad: this is "bloomberg technology." i'm brad stone. launched its first fleet of 2017, ands in june now it's celebrating over 50 million rides worldwide -- lime launched its first fleet of pedal bikes in june 2017. it's hard to believe it has only years.o investors obviously continue to be excited about the scooter business. i guess my question is now that we have just come through a winter, and i expect the business is seasonal, are riders

still in susie asked that? >> as you mentioned, we just celebrated 50 million rides. -- still enthusiastic? 20 markets in 15 countries and what amazes me is the growth is, which shows useful, but also help global it is. all across the world and especially europe, you see mark .omo ability -- micro mobility brad: i'm not sure north america was built for scooters. to what extent has the company had success working with cities to create safe solutions, safe ? enues for micro mobility >> if you look, there are about the united trips in

states in cities that are less than a mile and a half of driving for over half a mile of walking. that is the total addressable market. if you consider utilization of a vehicle of about four trips per vehicle per day, you need about 75 million in the entire country to serve that need, even if you , seven .5 million. there's a limited amount that cities are allowing to be deployed and we are working with every city to try to get more scooters available because everywhere we go, we see an incredible adoption of that vehicle type. the primary reason is it is the closest thing to a measure carpet the world has ever seen. you get on and you glide. second, it is timesaving. i commute every day from the caltrain station to my office, 20 minutes in a car, seven and a scooter. a scooter. what we are working with is how you make it safer for bike lanes, separating high-speed traffic from low-speed traffic and we are working with cities

to make that happen. brad: you guys have raised over $700 million. we just reported that over -- -- uber isoover ready to price its ipo. to what extent is a successful mine -- helpful for ? me >> a think it's important because i think there is a revolution happening, which is what i would call the great unbundling of the car. the model has been you own a car, you do everything with it. short and long terms, trips in a city and out of a city, but that is changing because the internet and smartphones allow you to summon a vehicle when you want it without having to own a vehicle. the next step that is happening is instead of using a car for everything, you can use small

vehicles for short trips and bigger vehicles for longer trips, so this unbundling -- be it access over ownership or small vehicles for shorter trips and bigger trips for longer trips -- is happening and i just one uber ipo is part of the trend. brad: is there anything specific you took away from uber or lyft s1? >> i think one is at least as it me,ates to mine -- to li the importance both of those companies put on the idea of using smaller vehicles for short trips, both to the benefit of the economics of the business but also because there is a tremendous time savings, so there is customer demand. that was one thing busted out to me. brad: but that means they are competitors, and, of course, uber acquired one of your

rivals. how seriously do you take them coming into your market? >> we have a great partnership with uber. like in any early market, the definition between a competitor evolving a ends up little bit. at the same time, they offer their own sweet -- suite through jump. right now, 99% of people have never written any scooter of any kind, so most of the market is anyd of us -- never ridden scooter of any kind. it is a capital-intensive business. you mentioned how much money we have raised. we are focused on excellence of operations which allows for positive unit economics, and this is a complicated business. we have a supply chain in china that builds the spoke scooters and sends them to 85 markets across the world and they are operated by local teams. it is a complicated operational business and getting it right

and making positive margins is hard. what do i expect to happen? right now, there's some big competitors and a bunch of smaller companies. i do expect because it is a capital-intensive business that scaled layers will win and many of these small players will struggle to raise capital later in the year and early in 2020. i do not know if that is consolidation, but i think scale matters. is the geographic opportunity? you talked about europe. what countries are you investing in right now? >> if you look, we are on five continents. we are investing pretty much globally across the world. for example, just a couple of days ago, we launched in bogota, , so wea, and montevideo have a wide geographic footprint from australia, new zealand, through latin america, both western europe and eastern europe, tel aviv -- we are all over the world. brad: is there anywhere does not work? >> or are some markets -- i

would point to southeast asia. in china right now, these scooters are illegal because they are classified as cars. -- there are some markets where -- >> i don't think you want to ride a scooter on a road in india. >> well, yes, exactly. you have a combination of willingness to pay infrastructure, ability to move vehicles around, so there are some markets where a thing, mostly concentrated in southeast asia, that will be harder to operate in. brad: last question, safety. there have been lawsuits from riders who have been injured. how do you improve the safety and make sure people are operating the scooters and evite es responsibly? >> our goal is to make the scooter safer than a bike. one of the things you can do is give away lots of helmets and we have, over a quarter million, but the second thing is this is a new vehicle type, so education

andow to ride them education on where you ride them. cities across the state have a program called vision zero with a 10 pedestrian fidelity's edited part of that is separating cars from pedestrians and bikers and we are working with cities to develop those -- called vision zero where they have zero pedestrian fatalities. brad: coming up, we talk about the online world of antiques. this is bloomberg. ♪

: india's high court lifted the ban of the popular tictoc app in the country. it is a victory for its parent company, which was valued at 75 billion dollars last year. it also comes as a relief for other startups hoping to cash in on the world's fastest-growing smartphone market. the e-commerce landscape is not just the domain of sites like amazon and ebay. it's also home to high-end luxury goods. first it is one of the premier names in the online space -- bs.st di it announced a collaboration with auction house christie's so now you do not have to wait to a white marble bust.

you just go online and fill up your card. this is almost a 20-year-old company and you just raised a considerable amount of capital. talk to us about what it means for first dibs and howl you will use it. >> the company is almost 20 uses old -- how you will it. >> the companies was 20 years old. it was initially used for putting the antiques market online. since then, we have morphed into a marketplace for luxury designs in general. our fastest-growing categories are what we call new and custom or contemporary design and jewelry. we raise these funds from a combination of financial investors. t. rowe price was the lead investor, and also group artemis, which is the owner of primary's and the shareholder of the kirin group in paris.

our growth and fast-growing customer segments. brad: tell us more about your partnership with christie's. their parent company is an investor, and yet, that is an auction business. how do they avoid disrupting themselves by listing, i would imagine, a selection of their merchandise on 1stdibs? pretty complementary fit. one way to think about christie's is it is the largest off-line or analog marketplace for luxury design. this collaboration is the marketing of a collection through a christie's collaboration of the website and our new gallery in new york city. brad: let me ask about that gallery. i'm fascinated by these e-commerce firms that are going on the channel and opening bricks and mortar locations. you guys were one of the first

to do it. business.omni- how are these complementary to the business? >> for many designs, it's important to touch and see and feel in person. the show room is about 40,000 -- 45 thousand square feet, but it actually represents less than 1% of the product in our marketplace. for the customer for home and in person reviewing is important, we offer that, but the majority of customers who are comfortable buying online, we offer that as well. -- for the customer for whom an viewing is important. we only launched this one in february, so we are still in learning mode, but it has grown faster than expected, and it's doing white well. we have a long wait list of suppliers who are interested in exhibiting and it has been popular among both designers and consumers. -- it is doing quite well.

is no longer the only game in town when it comes .o antiques companies like cherish have been raising money. >> i do not view those direct competitors as direct competitors for our business. while anti-design was an original core of the business and is still an important part of what we do, it no longer is our fastest-growing category -- while antique design. us as off-line alternatives for what we sell. we are many times bigger than our direct competitors, but the of activity in the market happens off-line and that is the market we are gunning for . brad: is there friction between you and some of the sellers that primarily sell to physical

stores? >> there is friction between digital and traditional retail in general. i don't think it is to front than any other market and most of our suppliers are interested in figuring out how to do digital and finding a digital channel. onlinesting incumbents like amazon, for example, is not geared toward the luxury market. the way we think about it is the race for the $50 order has been won by a combination of amazon and walmart, but the race for the $5,000 order has not been won. we sell roughly 50 orders a day above $5,000 and those are mostly from suppliers who would not be comfortable selling through amazon or walmart. brad: those are extraordinary numbers. one last question, and i cannot not ask. you also sit on the board of twitter. jack dorsey recently paid a visit to president trump. i'm curious how you counsel your

ceo on the topic of balancing, you know, extremist content on the platform but also making sure you are not tilting the service toward one political party or not. it is something that all social media ceo's have had to deal with recently. >> i appreciate the interest, but jack does a greatit is somel media ceo's job representing the company and i would suggest you direct those questions to him and his team. brad: fair enough. thank you for joining us. >> thank you. our -- our eno ahead, amazon investors excited about future profits as past investments pay off? that's next. ♪

: the former mcdonald's

executive has been tapped to serve as its chief marketing officer marking the fourth addition to executive ranks since november after several high-profile departures. as the former vice president of mcdonald's, he oversaw the company's strategic brand and consumer marketing efforts in the u.s. back to amazon. first-quarter earnings are out and the tech giant reported profit of more than seven dollars a share, handily beating estimates. amazon says it is still reaping the benefits of investments made in 2016 and 2017. the big question now is -- are investors more excited about record-breaking profit or will they be more worried about more hiring and spending coming later this year? thank you both for joining us. first to you, a busy day in the tech sector, but for amazon, the

stock is up 2% on this beat. some concerns about next quarter. what do you make of the results? >> the last four quarters, there is a trend, in line revenue, massive beat on profit. advertising margin contribution continues to be strong. aws growth continues to be strong, so what we are seeing in the concern building about spending is they are moving from prime two-day shipping to offer more one-day shipping to secure the market share longer-term and that is where the incremental spending is going to come from apart from the expansion in aws, logistics expansion, content expansion, things like that. this shows they are managing profits well, so expect a steady growth story, but profit growth longer-term will be higher. brad: one of the things i find fascinating about amazon is it is less and less a retail business and more and more and e-commerce marketplace. you run a company that advises

brands how to sell to amazon and you also if i recall worked at amazon back in the day. to what extent is this a moving target for you and your colleagues? jeff bezos in his recent shareholder letter said third partners -- third parties are butt.g the 1p >> as we see the trends that have happened on amazon in the past -- call it eight quarters or so, there is a significant shift we see in amazon focusing more on profitability as opposed to sales growth. really coming off of amazon's of eliminating people from various processes, starting to launch private-label goods and also, to your point, and democratizing the 2p1psplace in the way that

3p's by playing on the same field. at the end of the day, the consumer is winning, but at the 3p's tryingp's and to compete with each other. time a market place giant makes changes like this, people complain. marketplace sellers have been complaining. the traditional complaint of the 1p seller has been counterfeits and fraud. amazon has been trying to address this. have they had success? >> i think they are making big strides. they are trying to the intentful 3p.ho is a 1p and who is a if you are industry peter or wholesaler or someone just aggregating demand and selling it, they are starting to move to a more 3p platform.

there are movements for a program called one vendor which is launching with amazon with a stated goal of having 3000 to 5000 vendors on the amazon 1p platform. the 1p business is not going away. it was just become a lot more consolidated to those who are legitimately brand manufacturers. i find out if they are charged to appear high in search results. some of them do not like it. yet in the earnings results, i noticed it seems like the growth rate for that at business -- at hasness -- ad business slowed considerably. >> first of all, there was an accounting change last year. where they used to count negative cost of sales and other started looking in revenue, and that gave a one-time step, so we are dealing with that. the deceleration is not as big as we think it is. second, if you take the other segment number, the business

within it is growing faster than the segment. what we see happening is as the traffic grows and as amazon goes ads in their app, giving up more music service and things like that, they will expand materially. as far as pricing is concerned, theoretically, the roi amazon can deliver on advertising should be the highest out there because they have the data. they know exactly how much conversion you can get from this advertising, so i think it will normalize the pricing, but right now, i think the focus is on driving margins by capturing additional sellers that come online. >> we are seeing a lot of the arbitrage opportunities that used to be there about a year ago are going away. it used to be easier to get a have avertising cost to very lucrative return on investment on your ads business

and amazon. that is starting to taper off because everybody is jumping on the bandwagon because everybody the only closed loop system out there where you can truly measure the roi on what you spend. to spend on amazon is only going to increase. brad: the physical stores, growing in the low single digits. it shrank last quarter, so maybe it is an improvement, but have they figured it out yet with whole foods and the bookstores and the four-star stores? >> the opportunity and groceries is online. the physical stores, they will have to expand physical stores to see that growth, but what they are seeing is all the price cuts helping drive growth in little more than what was before, but it remains a single-digit story for now. brad: that is it for us. thank you both for joining us. for this edition of

"bloomberg technology." -- that does it for this edition of "bloomberg technology." be sure to follow our breaking global news network tictoc on twitter. this is bloomberg. ♪

paul: welcome to "daybreak australia." sophie: we are counting down to asia's major market opens. ♪ paul: hear other top stories we are covering in the next hour. tech stocks rally while industrials slumped. amazon amazing analysts with quarterly results and time for compromise. the u.s. may that