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Amazon reports 23% increase in Q1 net sales

RBR Staff Writer Published 28 April 2017

Online retailing giant Amazon has reported a 23% increase in its net sales to $35.7bn in the first quarter of this year, compared to $29.1bn for the same period in 2016.

Operating cash flow increased 53% to $17.6bn for the trailing twelve months, compared with $11.6bn for the trailing twelve months ended 31 March 2016.

The company's free cash flow surged to $10.2bn for the quarter that ended March 31. In the same period in 2016, Amazon’s free cash flow was $6.7bn.

In North America, Amazon made net sales of $21bn in Q1 2017 in comparison to $17bn in Q1 2016.

From rest of the world, net sales grew from $9.6bn in Q1 2016 to $11bn in the first quarter of the year.         

The retailer stated that barring the unfavorable impact of $492m from year-over-year changes in foreign exchange rates right through the quarter, net sales were up by 24% in Q1 2017 to what it was in Q1 2016.

Amazon’s operating income came down to $1bn, a drop by 6% to the $1.1bn generated in the same period of last year.

Its net income grew from Q1 2016’s $513m, or $1.07 per diluted share to $724m, or $1.48 per diluted share in the first quarter of the current year.

Amazon founder and CEO Jeff Bezos said: “Our India team is moving fast and delivering for customers and sellers. The team has increased Prime selection by 75% since launching the program nine months ago, increased fulfillment capacity for sellers by 26% already this year, announced 18 Indian Original TV series, and just last week introduced a Fire TV Stick optimized for Indian customers with integrated voice search in English and Hindi.

“We’re grateful that customers are responding — Amazon.in is the most visited and the fastest growing marketplace in India. It’s still Day 1 for e-commerce in India, and I assure you that we’ll keep investing in technology and infrastructure while working hard to invent on behalf of our customers and small and medium businesses in India.”

Image: Amazon founder and CEO Jeff Bezos. Photo: courtesy of Amazon.com, Inc.