SAN FRANCISCO, April 30 (Xinhua) — Amazon.com Inc. on Tuesday announced its better-than-expected financial results for this year’s first quarter ended on March 31, with net sales of 143.3 billion U.S. dollars, up by 13 percent year on year.
Amazon’s net income for the quarter was 10.4 billion dollars, or 0.98 dollars per diluted share, compared with 3.2 billion dollars, or 0.31 dollars per diluted share, in the first quarter of 2023.
The company’s operating income increased to 15.3 billion dollars in the first quarter this year, compared with 4.8 billion dollars year on year.
North America segment sales increased 12 percent year on year to 86.3 billion dollars; international segment sales increased 10 percent to 31.9 billion dollars, or increased 11 percent excluding changes in foreign exchange rates; and AWS segment sales increased 17 percent to 25.0 billion dollars.
The company’s operating cash flow increased 82 percent to 99.1 billion dollars for the trailing 12 months, compared with 54.3 billion dollars for the trailing 12 months ended March 31, 2023.
“It was a good start to the year across the business, and you can see that in both our customer experience improvements and financial results,” said Andy Jassy, Amazon president and CEO.
“The combination of companies renewing their infrastructure modernization efforts and the appeal of AWS’s AI capabilities is reaccelerating AWS’s growth rate; our Stores business continues to expand selection, provide everyday low prices, and accelerate delivery speed while lowering our cost to serve; and, our Advertising efforts continue to benefit from the growth of our Stores and Prime Video businesses,” he added.
Source Agencies
