Daily Management Review

Amazon posts $3.2B of first-quarter net profit


Online retailer Amazon had a net profit of $3.172 billion in the first quarter versus a loss of $3.844 billion during the same period in 2022.

For the period, diluted earnings per share were $0.31 as opposed to a loss of $0.38 from the prior year.

Amazon's sales increased by 9% to $127.358 billion above the expected $124.55 billion. Operating profit increased by 30% to $4.774 billion.

The business anticipates sales growth of 5-10% annually, or up to 127-133 billion dollars, at the conclusion of the second quarter. 

Operating profit is expected to increase from $3.3 billion in the second quarter of last year to $2–5.5 billion.

source: bloomberg.com