updated 07:14 pm EDT, Thu April 24, 2014
Company expects massive losses in second quarter
Amazon today announced financial results for its first quarter ended March 31. Net sales increased 23 percent to $19.74 billion in the first quarter, compared with $16.07 billion in first quarter of 2013. Net income increased to $108 million in the first quarter, or $0.23 per share, compared with $82 million, in the same time period in 2013.
Operating income decreased 19 percent to $146 million in the first quarter, compared with $181 million in first quarter 2013. Operating cash flow increased 26 percent to $5.35 billion for the trailing twelve months, compared with $4.25 billion for the trailing twelve months that ended in 2013.
For the second quarter of 2014, net sales are expected to be between $18.1 billion and $19.8 billion. The company is expecting a loss of between $455 million and $55 million, compared to $79 million in profit for the second quarter of 2013.