Shulou(Shulou.com)11/24 Report--

Beijing, April 28 (Beijing time)-Amazon (NASDAQ: AMZN) today released its results for the first quarter of fiscal year 2023, which ended March 31. Amazon reported total net sales of $127.358 billion in the first quarter, up 9% from $116.444 billion a year earlier, with a net profit of $3.172 billion and a net loss of $3.844 billion a year earlier.

Amazon's first-quarter net profit included a $500m loss on its investment in electric car company Rivian. Amazon's better-than-expected revenue in the first quarter pushed its shares up more than 8 per cent in after-hours trading.

Stock price performance:

Amazon shares rose 8.63% in after-hours trading. Amazon opened Thursday at $108.16 on the Nasdaq. As of Thursday's close, Amazon shares were up $4.84, or 4.61%, at $109.82. Amazon shares were up $9.48, or 8.63%, to $119.30 in after-hours trading as of 17:28 EDT (5:28 Beijing time on Friday). In the past 52 weeks, Amazon shares have peaked at $146.57 and as low as $81.43.

First quarter performance points:-- Total net sales were $127.358 billion, up 9% from $116.444 billion in the same period last year; excluding the negative impact of year-on-year changes in the exchange rate of $2.4 billion, total net sales increased by 11% year-on-year

-- Total operating expenses were $122.584 billion, up 9 per cent from $112.775 billion in the same period last year

-- operating profit was $4.774 billion, up 30 per cent from $3.669 billion in the same period last year

-- net profit was $3.172 billion, compared with a net loss of $3.844 billion in the same period last year. Amazon's first-quarter net profit included a pre-tax valuation loss of $500 million, which was included in the non-operating expenses of the company's investment in common stock in electric vehicle startup Rivian Automotive, compared with a pre-tax valuation loss of $7.6 billion in the same period last year.

-- diluted earnings per share of $0.31, compared with a diluted loss of $0.38 per share in the same period last year.

Operating cash flow rose 38 per cent to $54.3 billion in the 12 months to March 31, 2023, while free cash flow improved to $3.3 billion, up from $18.6 billion in the same period a year earlier.

By department:-- AWS Cloud Services Division's first quarter net sales were $21.354 billion, up 16% from $18.441 billion in the same period last year, accounting for 17% of total net sales.

-- net sales of the North American division in the first quarter were $76.881 billion, up 11% from $69.244 billion in the same period last year and accounting for 60% of total net sales

-- net sales in the international sector in the first quarter were $29.123 billion, up 1% from $28.759 billion in the same period last year, accounting for 23% of total net sales.

Outlook for the second quarter:-net sales are expected to be between $127 billion and $133 billion, up 5 to 10 per cent year-on-year; this guiding expectation includes the adverse impact of exchange rate changes of about 30 basis points

-- operating profit is expected to be between $2 billion and $5.5 billion, compared with $3.3 billion in the same period last year

This guiding expectation assumes that it does not include other commercial acquisitions, restructuring or litigation settlements.

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