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Amazon.com Announces First Quarter Sales up 17% to $59.7 Billion
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Amazon.com Announces First Quarter Sales up 17% to $59.7 Billion

Net income increased to $3.6 billion

TLME News Service

Amazon.com, Inc. has announced financial results for its first quarter ended March 31, 2019.

Operating cash flow increased 89% to $34.4 billion for the trailing twelve months, compared with $18.2 billion for the trailing twelve months ended March 31, 2018.

Free cash flow increased to $23.0 billion for the trailing twelve months, compared with $7.3 billion for the trailing twelve months ended March 31, 2018.

Common shares outstanding plus shares underlying stock-based awards totaled 507 million on March 31, 2019, compared with 504 million one year ago.

Net sales increased 17% to $59.7 billion in the first quarter, compared with $51.0 billion in first quarter 2018.

Excluding the $1.1 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 19% compared with first quarter 2018.

Operating income increased to $4.4 billion in the first quarter, compared with operating income of $1.9 billionin first quarter 2018.

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Net income increased to $3.6 billion in the first quarter, or $7.09 per diluted share, compared with net income of $1.6 billion, or $3.27 per diluted share, in first quarter 2018.

Speaking on one of Amazon’s CSR initiatives Jeff Bezos, Amazon founder and CEO said: “The son of a working single mom, Leo Jean Baptiste grew up speaking Haitian Creole in a New Jersey home without internet access.

“He’s also one of our inaugural group of 100 high school seniors to receive a $40,000Amazon Future Engineer scholarship and Amazon internship.

“He rose to the top of his class and is set to study computer science at college this fall, with the dream of getting a job in machine learning. Our passion for invention led us to create Amazon Future Engineer so we could help young people like Leo from underrepresented groups and underserved communities across the country.

“In addition to 100 college scholarships a year, we’re funding computer science classes in 1,000 high schools and counting, and inspiring younger kids to explore coding through coding camps and after-school programs.

“We love this program, and we can’t wait to see what Leo and his fellow future engineers invent.”

According to the second quarter 2019 Guidance Net sales are expected to be between $59.5 billion and $63.5 billion, or to grow between 13% and 20% compared with second quarter 2018.

This guidance anticipates an unfavorable impact of approximately 150 basis points from foreign exchange rates.

Operating income is expected to be between $2.6 billion and $3.6 billion, compared with $3.0 billion in second quarter 2018.

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