Amazon.com's (AMZN) Q1 Revenue Surges 38%, Profit Drops 33%
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Amazon.com (Nasdaq: AMZN) disappointed investors late Tuesday after reporting strong first-quarter sales, but profits that sharply missed views.
Amazon.com reported net income fell 33 percent to $201 million, or about 44 cents per share, in the quarter. Analysts were expecting quarterly EPS of 61 cents.
Net sales increased 38 percent to $9.86 billion in quarter, easily topping the Wall Street consensus of $9.52 billion.
Operating cash flow increased 9 percent to $3.03 billion, however free cash flow decreased 18 percent to $1.90 billion.
Providing financial guidance in the current quarter, Amazon said it sees operating income between $95 million and $245 million. This level of profit would suggest a decline between 65 percent and 9 percent compared with the second quarter of 2010, and below the consensus of $369.5 million. The company sees net sales between $8.85 billion and $9.65 billion, versus the consensus of $8.74 billion.
Shares of Amazon.com are now down 1 percent after initially trading down 6 percent on the results.
Amazon.com reported net income fell 33 percent to $201 million, or about 44 cents per share, in the quarter. Analysts were expecting quarterly EPS of 61 cents.
Net sales increased 38 percent to $9.86 billion in quarter, easily topping the Wall Street consensus of $9.52 billion.
Operating cash flow increased 9 percent to $3.03 billion, however free cash flow decreased 18 percent to $1.90 billion.
Providing financial guidance in the current quarter, Amazon said it sees operating income between $95 million and $245 million. This level of profit would suggest a decline between 65 percent and 9 percent compared with the second quarter of 2010, and below the consensus of $369.5 million. The company sees net sales between $8.85 billion and $9.65 billion, versus the consensus of $8.74 billion.
Shares of Amazon.com are now down 1 percent after initially trading down 6 percent on the results.
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