Earnings: Amazon Q1 Revs Up 37 Percent; Net Income Up 30 Percent; Stock Slips
This story was written by Joseph Weisenthal.
Amazon (NSDQ: AMZN) has reported Q1 revenue of $4.13 billion, a 37 percent increase from $3.02 billion. Net income was up 30 percent to $143 million ($.34 per share) from $111 million ($.26 per share). The results are ever so slightly ahead of estimatesanalysts had been calling for $.32 per share, so that's a modest beat. But the company is quickly trading down after hours, as expectations had been higher. Looking ahead, the company sees Q2 revs of $3.875-$4.075 billion and FY08 revenues of $19.1-$20 billion. Both are basically within the range of what analysts had been expecting. Some highlights:
-- North America sales were up 31 percent to $2.13 billion, still a little more than half of the total.
-- Worldwide media sales were up 28 percdent to $2.54 billion.
-- As usual, there's little information on the company digital initiatives, though the company said another 35,000 developers signed up for its web services, bringing its total to 370,000.
More to come
By Joseph Weisenthal