Analysts and investors point to two impressive numbers in the report—Amazon's 30 percent unit growth and its record 26.6 percent gross margin.
Youssef Squali, an analyst with Cantor Fitzgerald, told CNBC that the 30 percent unit growth is twice as fast as growth in e-commerce in general. Manahey, meanwhile, said unit growth was "unusual" and could re-accelerate in the second half of the year, sending the stock higher.
For a company that invests heavily for future growth, the record gross margin was also "pretty impressive," Dan Morgan, a portfolio manager at Synovus Trust, told CNBC. His fund owns 10,000 shares.
Investors focus intently on profitability at Amazon as it continually pours money into building new distribution warehouses, creating devices like the Kindle and expanding its digital content business.
But since Amazon doesn't tend to tell the Street how much it's going to spend, "it leaves a little bit of uncertainty in the minds of investors," Cantor's Squali, who rates the stock a "buy," said.
(Read More: 'Stay Long' Amazon.com: Gene Munster)
One of those areas of investment may be a new set top box that will put it into greater competition with Netflix and Apple. Already a major player in video streaming, Squali said the move is a smart strategy.
"What differentiates Amazon.com from Netflix is they have AWS, which is one of the largest online platforms for data storage. I think that is something they can use to serve anything from movies to online gaming," he said.
