Amazon’s first-quarter revenue was US$143.313 billion, a year-on-year increase of 13%, and net profit was US$10.431 billion, a year-on-year increase of 229%.

Morning news on May 1, Beijing time, Amazon today released its financial report for the first quarter of fiscal year 2024: net sales were US$143.313 billion, a year-on-year increase of 13%, excluding the impact of exchange rate changes, a year-on-year increase of 13% Net profit was US$10.431 billion, a significant increase of 229% year-on-year; diluted earnings per share was US$0.98, a significant increase compared with US$0.31 diluted earnings per share in the same period last year.

Amazon’s first-quarter revenue and diluted earnings per share exceeded Wall Street analysts’ expectations, but the company’s outlook for second-quarter revenue fell short of expectations. After the financial report was released, Amazon’s stock price rose nearly 3% after hours.

Main results:

According to reports, Amazon’s financial performance as of March 31 In the third quarter, net profit was US$10.431 billion and diluted earnings per share were US$7.09. This performance was much better than the same period last year. According to the financial report data released by Amazon, diluted earnings per share were much better than the same period last year, while diluted earnings per share were US$0.98, and the revenue growth rate was US$3.172 billion. This shows that Amazon's earnings performance in the first quarter of fiscal 2023 was very strong, with diluted earnings per share rising by $0.31.

Amazon’s net sales in the first quarter were US$143.313 billion, an increase of 13% compared with US$127.358 billion in the same period last year. Excluding a $200 million negative impact from currency changes, Amazon's first-quarter net sales increased 13% compared with the same period last year.

Amazon’s first-quarter operating profit was $15.307 billion, a significant increase from $4.774 billion in the same period a year earlier.

In February this year, when Amazon released its fourth quarter and full-year financial reports for fiscal year 2023, it predicted that net sales in the first quarter of fiscal year 2024 would reach between US$138 billion and US$143.5 billion, year-on-year. Growth of 8% to 13% includes an expected positive impact of approximately 40 basis points from exchange rate changes. Its average value is $140.75 billion. Amazon also expected at the time that operating profit in the first quarter of fiscal 2024 would reach between US$8 billion and US$12 billion. This means that Amazon’s first-quarter revenue and operating profit exceeded the company’s previous expectations.

According to data provided by Yahoo Finance, 44 analysts predicted that Amazon’s first-quarter revenue and diluted earnings per share exceeded Wall Street analysts’ expectations. According to data, 44 analysts had previously expected Amazon's net sales to reach US$14.25 billion on average in the first quarter, while the average expected earnings per share was US$0.83. In addition, 39 analysts had expected Amazon's first-quarter earnings per share to reach $0.83, while the actual earnings per share were $1.07, exceeding expectations.

Amazon’s total operating expenses in the first quarter were US$128.006 billion, an increase from US$122.584 billion in the same period last year. Among them, the cost of sales was US$72.633 billion, an increase compared with US$67.791 billion in the same period last year; fulfillment expenses were US$22.317 billion, an increase compared with US$20.905 billion in the same period last year; marketing expenses were US$9.662 billion. , a decrease compared with US$10.172 billion in the same period last year; technology and content expenses were US$20.424 billion, basically the same as US$20.450 billion in the same period last year; general and administrative expenses were US$2.742 billion, down from US$20.450 billion in the same period last year. A decrease compared with US$3.043 billion; other operating expenses were US$228 million, basically the same as US$223 million in the same period last year.

Performance of each department:

Amazon product sales in the first quarter were US$60.915 billion, an increase compared with US$56.981 billion in the same period last year; service net sales The amount was US$82.398 billion, an increase compared with US$70.377 billion in the same period last year. This shows that Amazon achieved promising sales growth in the first quarter.

By geography:

- Amazon’s North American division (United States, Canada) net sales in the first quarter were US$86.341 billion, an increase of 12% compared with US$76.881 billion in the same period last year; Operating profit was US$4.983 billion, a significant increase of 455% compared with US$898 million in the same period last year.

- Amazon International segment (UK, Germany, France, Japan and China) net sales in the first quarter were $31.935 billion, an increase of 10% compared to $29.123 billion in the same period last year, excluding currency The impact of the change was an 11% year-on-year increase; operating profit was US$903 million, turning a profit compared to an operating loss of US$1.247 billion in the same period last year.

- Amazon AWS cloud service net sales in the first quarter were US$25.037 billion, an increase of 17% compared with US$21.354 billion in the same period last year. Excluding the impact of exchange rate changes, the same year-on-year increase was 17%; Operating profit was US$9.421 billion, an increase of 84% compared with US$5.123 billion in the same period last year.

- Amazon’s sales from the North American segment accounted for 60% of total sales in the first quarter, which was the same as the proportion of 60% in the same period last year; sales from the international segment The proportion of total sales was 22%, down from 23% in the same period last year; sales from AWS cloud services accounted for 18% of total sales, down from 23% in the same period last year. The proportion increased compared with 17% in the same period.

Divided by service and business type, Amazon’s first quarter performance of each department is as follows:

-Net sales from online stores were US$54.670 billion, an increase compared with US$51.096 billion in the same period last year 7. Excluding the impact of exchange rate changes, it also increased by 7% year-on-year;

-Net sales from physical stores were US$5.202 billion, an increase of 6% compared with US$4.895 billion in the same period last year. Excluding the impact of exchange rate changes, it also increased by 6% year-on-year;

-Net sales from third-party seller services were US$34.596 billion, an increase of 16% compared with US$29.820 billion in the same period last year. Excluding the impact of currency changes, it also increased 16% year-on-year;

-Net sales from subscription services were US$10.722 billion, an increase of 11% compared with US$9.657 billion in the same period last year, excluding The impact of changes in import exchange rates was also a year-on-year increase of 11%;

-Net sales from advertising services were US$11.824 billion, an increase of 24% compared with US$9.509 billion in the same period last year, excluding exchange rates The impact of the change was also a year-on-year increase of 24%;

-Net sales from AWS cloud services were US$25.037 billion, an increase of 17% compared with US$21.354 billion in the same period last year, excluding exchange rate changes The impact was also a year-on-year increase of 17%;

-Net sales from other businesses were US$1.262 billion, an increase of 23% compared with US$1.027 billion in the same period last year, excluding the impact of exchange rate changes It was also a year-on-year increase of 23%.

Cash flow information:

For the 12 months ended March 31, 2024, Amazon’s operating cash flow was $99.1 billion, compared with the prior year An increase of 82% compared with the same period; in the 12 months ended March 31, 2023, Amazon's operating cash flow was US$54.3 billion.

In the 12 months ended March 31, 2024, Amazon's free cash flow was $50.1 billion, a significant improvement compared with the same period last year; in the 12 months ended March 31, 2023 Amazon's free cash flow was $3.3 billion in the trailing 12 months.

After deducting lease principal repayments, Amazon’s free cash flow in the past 12 months was US$46.1 billion, a significant improvement compared with the same period last year; as of March 31, 2023 In the 12 months as of today, Amazon's free cash flow after excluding the aforementioned items was an outflow of $10.1 billion.

After deducting principal repayments on finance leases and assets acquired under capital leases, Amazon’s free cash flow in the past 12 months was $48.8 billion, a significant improvement compared to the same period last year. ; In the 12 months ended March 31, 2023, Amazon's free cash flow after deducting the aforementioned items was an outflow of $4.5 billion.

Performance expectations:

Amazon expects the company’s net sales to reach between US$144 billion and US$149 billion in the second quarter of fiscal 2024, a year-on-year increase 7% to 11%, including the expected negative impact of approximately 60 basis points from exchange rate changes. In the fiscal first quarter of fiscal 2024, the leap year had a gain effect of approximately 120 basis points on Amazon's year-over-year net sales growth rate.

Amazon also expects the company’s operating profit to be between $10 billion and $14 billion in the second quarter of fiscal 2024, compared with operating profit of $7.7 billion in the same period of fiscal 2023.

The above guidance assumes that Amazon will not enter into any other business acquisitions, restructurings or legal settlements in the second quarter of 2024.

The average range of Amazon’s forecast range for second-quarter net sales was $146.5 billion, missing analysts’ expectations. On average, 42 analysts expected Amazon to post net sales of $150.07 billion in the second quarter, according to data provided by Yahoo Finance.

Stock price changes:

On the same day, Amazon’s stock price fell by $5.96 in regular Nasdaq trading, closing at $175.00, a decrease of 3.29%. In subsequent after-hours trading as of 5:36 pm ET on Tuesday (5:36 am on Wednesday, Beijing time), Amazon shares rose $5.10, or 2.91%, to $180.10. Over the past 52 weeks through Tuesday's close, Amazon's highest price was $189.77 and its lowest price was $101.15.

The above is the detailed content of Amazon’s first-quarter revenue was US$143.313 billion, a year-on-year increase of 13%, and net profit was US$10.431 billion, a year-on-year increase of 229%.. For more information, please follow other related articles on the PHP Chinese website!