Amazon.com financial results for the first quarter 2023: Amazon.com has announced its financial results for the first quarter ended March 31, 2023. The e-commerce giant reported net sales of $127.4 billion, up 9% from the first quarter of 2022. The North America segment sales increased by 11% year-over-year to $76.9 billion, while international segment sales increased by 1% to $29.1 billion. The AWS segment sales increased by 16% year-over-year to $21.4 billion.
Operating income for the first quarter was $4.8 billion, up from $3.7 billion in the first quarter of 2022. The North America segment reported operating income of $0.9 billion, compared to an operating loss of $1.6 billion in the first quarter of 2022. The International segment reported an operating loss of $1.2 billion, compared to an operating loss of $1.3 billion in the first quarter of 2022. The AWS segment reported operating income of $5.1 billion, compared to $6.5 billion in the first quarter of 2022.
Amazon.com reported a net income of $3.2 billion in the first quarter, compared to a net loss of $3.8 billion in the first quarter of 2022. The company’s operating cash flow increased 38% to $54.3 billion for the trailing twelve months, and free cash flow improved to an outflow of $3.3 billion for the trailing twelve months, compared to an outflow of $18.6 billion for the trailing twelve months ended March 31, 2022.
According to Amazon CEO Andy Jassy, the company’s teams are delivering for customers, particularly amidst an uncertain economy. The company’s Stores business is improving the cost to serve in its fulfillment network while increasing the speed with which it gets products into the hands of customers. The Advertising business continues to deliver robust growth, largely due to ongoing machine learning investments that help customers see relevant information when they engage with the company. Jassy also highlighted the company’s AWS business, which he said is navigating companies spending more cautiously in this macro environment.
source and credit : Amazon