Amazon announces Q1 financial results with 44 pct net sales growth

Amazon.com, Inc. on Thursday announced its financial results for the first quarter ended March 31, 2021, with net sales of 108.5 billion U.S. dollars, up 44 percent year over year, Trend reports citing Xinhua.

Excluding the 2.1 billion U.S. dollars favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, the company’s net sales increased 41 percent compared with 75.5 billion dollars in the first quarter of 2020.

Its operating income increased to 8.9 billion U.S. dollars in the first quarter, compared with operating income of 4.0 billion dollars in the first quarter of 2020.

Net income increased to 8.1 billion U.S. dollars in the first quarter, or 15.79 dollars per diluted share, compared with net income of 2.5 billion dollars, or 5.01 dollars per diluted share, in the first quarter of 2020.

Its operating cash flow increased 69 percent to 67.2 billion U.S. dollars for the trailing 12 months, compared with 39.7 billion dollars for the trailing 12 months ended March 31, 2020.

Amazon’s common shares outstanding plus shares underlying stock-based awards totaled 519 million on March 31, 2020, compared with 513 million one year ago.

“Two of our kids are now 10 and 15 years old-and after years of being nurtured, they’re growing up fast and coming into their own,” said Jeff Bezos, Amazon founder and CEO.

“As Prime Video turns 10, over 175 million Prime members have streamed shows and movies in the past year, and streaming hours are up more than 70 percent year over year,” Bezos noted.

“In just 15 years, AWS (Amazon Web Services) has become a 54 billion U.S. dollars annual sales run rate business competing against the world’s largest technology companies, and its growth is accelerating-up 32 percent year over year,” he added.

AWS launched a second full region in Japan with three Availability Zones (AZs) in March, joining the existing 25 Availability Zones in eight AWS regions across the Asia Pacific in China’s Beijing, Hong Kong, Ningxia, and Mumbai, Seoul, Singapore, Sydney, Tokyo. Globally, AWS has 80 Availability Zones across 25 geographic regions.