Amazon.com Inc. (NASDAQ:AMZN) late Thursday posted first-quarter revenue of $107.1 billion, a 41% increase over 2020 results, with operating income more than doubling to $8.9 billion and net income more than tripling to $8.1 billion.
On a diluted basis, the Seattle-based e-tailer posted $15.79 in per-share earnings, compared with $5.01 in the year-earlier quarter. The median estimate from 15 analysts polled by Barchart was $9.75 a share.
Amazon spent more than $17.1 billion on shipping in the quarter, a 57% year-over-year gain.
The company guided to second-quarter revenue of between $110 billion and $116 billion, a 24% to 30% year-on-year gain. Operating income will range between $4.5 billion and $8 billion, compared with $5.8 billion. Amazon said its guidance assumes that the company’s annual Prime Day event will return to the June 2021 schedule, after being postponed to late fall last year due to the COVID-19 pandemic.
The guidance also assumes a 200-basis-point tailwind from favorable foreign exchange rates, and about $1.5 billion in COVID-19 related costs, the company said.
Stephen Webster
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