Amazon Posts Modest Q1 Performance
Proving a clear market demand for its services, Amazon reported net sales of $13 billion for the first quarter of the year -- up 34% year-over-year. Yet, the ecommerce giant also revealed $130 million in net income, or $0.28 per diluted share, for the quarter, which is down 35% year-over-year.
“Altogether, [first quarter] earnings were a plus for Amazon following a disappointing fourth quarter, and they ultimately beat Wall Street’s expectations of a first-quarter profit of seven cents a share on revenue of $12.9 billion,” Reuters reports. All told, Amazon finished the first quarter with $192 million in operating income -- down from $322 million in the first quarter of 2011.
Ecommerce side, Amazon’s Kindle Fire tablet device remains the company’s bestselling product. As usual, however, Amazon refrained from revealing specific sales numbers for its Kindle product lineup. Going forward, for the second quarter of the year, Amazon said Friday that it expects to earn between $11.9 billion and $13.3 billion in revenue, which would represent up to 34% year-over-year growth.
Recent Around the Net In Online Marketing Articles
-
Gadget Use Soaring Among Fliers May 23, 12:23 p.m.
Don’t tell your flight attendant, but frequent fliers are greatly increasing their use of tablets and ... -
Microsoft Employs Siri To Bash Apple May 23, 12:22 p.m.
Say it ain’t so, Siri! Seemingly against her will (if she even has one), Apple’s oracle ... -
Yahoo Buys Gaming Platform Provider PlayerScale May 23, 12:21 p.m.
Continuing its buying binge, Yahoo just scooped up gaming platform startup PlayerScale. “PlayerScale, which was founded ... -
Twitter Streams Network Fare With "Amplify" May 23, 12:20 p.m.
Twitter on Thursday unveiled a new way for TV networks to broadcast real-time video on the ... -
"Social Expressions" Startup Urturn Raises $13.4M May 22, 11:48 a.m.
Urturn -- a so-call “social expressions platform” -- just closed a $13.4 million Series A funding ... -
Apple To Embrace More Social Networks May 22, 11:47 a.m.
Apple reportedly plans to give third-party social networks -- including Flickr and Vimeo -- a bigger ... -
Twitter Bows "Lead Generation" Ad May 22, 11:46 a.m.
Twitter on Wednesday debuted what it’s calling a “lead-generation” ad product. At first glance, “It looks ... -
Google Adds "Conversational Search" To Chrome May 22, 11:45 a.m.
As was widely expected, Google has added its new conversational search feature to the latest version ... -
Microsoft Bows Xbox-Exclusive Series May 21, 12:15 p.m.
Microsoft this week debuted “The Music Room” -- a new interactive TV series that will be ... -
Fab Could Flaunt $1B Valuation May 21, 12:15 p.m.
Fab Inc. is reportedly close to raising $250 million to $300 million, which would value the ...
Be the first to comment on "Amazon Posts Modest Q1 Performance"
Leave a Comment