- Prachi Singh |
Amazon.com, announcing its first quarter ended March 31, 2018, said that net sales increased 43 percent to 51 billion dollars compared with 35.7 billion dollars in first quarter 2017. Excluding the 1.6 billion dollars favourable impact from year-over-year changes in foreign exchange rates throughout the quarter, Amazon said, net sales increased 39 percent compared with first quarter 2017.
“AWS had the unusual advantage of a seven-year head start before facing like-minded competition, and the team has never slowed down,” said Jeff Bezos, Amazon Founder and CEO in a media release, adding, “As a result, the AWS services are by far the most evolved and most functionality-rich. AWS lets developers do more and be nimbler, and it continues to get even better every day.”
Operating income for the quarter increased 92 percent to 1.9 billion dollars compared to 1 billion dollars in first quarter 2017. Net income was 1.6 billion dollars in the first quarter or 3.27 dollars per diluted share, compared with 724 million dollars or 1.48 dollars per diluted share, in first quarter 2017.
Net sales for the second quarter are expected to be between 51 billion dollars and 54 billion dollars or to grow between 34 percent and 42 percent compared with second quarter 2017. This guidance, Amazon added, anticipates a favourable impact of approximately 1.2 billion dollars or 320 basis points from foreign exchange rates. Operating income is expected to be between 1.1 billion dollars and 1.9 billion dollars, compared with 628 million dollars in second quarter 2017.
Picture:Amazon press centre