Amazon.com reports 22pc hike in first-quarter sales to US$16.07bn

26 Apr 20131 Share

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E-commerce behemoth Amazon.com has revealed its first-quarter sales have gone up 22pc to US$16.07bn, compared with US$13.18bn in the first quarter of 2012.

Net income at the company decreased, however, by 37pc to US$82m in the first quarter, or US$0.18 per diluted share. This is compared to US$130m, or US$0.28 per diluted share, in the year-ago quarter.

Operating cash flow rose 39pc to US$4.25bn for the trailing 12 months, compared with US$3.05bn for the trailing 12 months ended 31 March 2012.

Operating income decreased 6pc to US$181m in the first quarter, compared with US$192m in first quarter 2012.

In a statement, Amazon.com’s founder and CEO Jeff Bezos highlighted the recent release of original TV programmes from Amazon’s studio division, which is part of its strategy to win more consumers’ loyalty.

“Amazon Studios is working on a new way to greenlight TV shows. The pilots are out in the open where everyone can have a say,” Bezos said.

“Our customers will determine what goes into full-season production. We hope Amazon Originals can become yet another way for us to create value for Prime members.”

Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com