Amazon smashes earnings in Q1

World .
Amazon smashes earnings in Q1

The online giant easily blew past analysts’ first-quarter earnings expectations, reporting net income of $3.56 billion — more than double compared to the year-ago period — and earnings per share of $7.09 for the period ended March 31. Analysts had expected earnings per share of $4.72. Amazon’s operating income was $4.4 billion, which reflected a record 7.4% margin.

Net sales increased 17% to $59.7 billion in the quarter, just beating expectations, compared to $51.0 billion in the year-ago period. It was the company’s slowest revenue growth in some four years.

In North American, revenue rose 17% compared to an increase of 46% in the year-ago period. Internationally, sales rose 9% compared to 34% last year.