Earlier apple reported Q1 revenue down by 5%, Amazon has now reported its Q1 revenue and the company announced an increase of 9% over the previous year.
Amazon had revenue of $149.2 billion for the quarter and it saw increases of 20% in Amazon Web Services, its operating income decreased to $2.7 billion.
“Our relentless focus on providing the broadest selection, exceptional value, and fast delivery drove customer demand in our Stores business during the fourth quarter that exceeded our expectations—and we’re appreciative of all our customers who turned to Amazon this past holiday season,” said Andy Jassy, Amazon CEO. “We’re also encouraged by the continued progress we’re making in reducing our cost to serve in the operations part of our Stores business. In the short term, we face an uncertain economy, but we remain quite optimistic about the long-term opportunities for Amazon. The vast majority of total market segment share in both Global Retail and IT still reside in physical stores and on-premises datacenters; and as this equation steadily flips, we believe our leading customer experiences in these areas along with the results of our continued hard work and invention to improve every day, will lead to significant growth in the coming years. When you also factor in our investments and innovation in several other broad customer experiences (e.g. streaming entertainment, customer-first healthcare, broadband satellite connectivity for more communities globally), there’s additional reason to feel optimistic about what the future holds.”
You can see the full Amazon Q1 financial results and revenue over at Amazon’s website at the link below.
Image Credit: Yender Gonzalez
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