Feeds

Amazon spits out healthy Q1 results

Bats gloomy recession ball into the stands

Top 5 reasons to deploy VMware with Tegile

Online retail giant Amazon racked up impressive first quarter revenue and profit growth, and said today it has – so far – not been affected by an economic slowdown in the US.

Q1 profit was up 30 per cent on a healthy 37 per cent climb in revenue, buoyed by increased customer purchases through the firm’s free-shipping schemes.

It pulled in $4.13bn in the first quarter ended 31 March 2008 from net sales, compared with $3.02bn in the same period a year ago.

Seattle-based Amazon reported net income of $143m, or 32 cents a share, from the year ago quarter.

The firm also raised its sales expectations for the year with a forecast for its 2008 sales to reel in between $19.1bn to $20bn, an increase of 29 to 35 per cent from 2007.

However, Amazon added that its operating profit would remain flat, and partly accredited the increased costs incurred from its acquisition of Audible.com earlier this year.

Amazon’s positive results benefited from a number of factors including its Amazon Prime discount shipping program, favourable foreign exchange rates that make overseas sales appear more valuable in dollar terms, and an increase in sales from third party retailers who sell on the website.

Amazon shares closed up 1.8 per cent to $81 on Wall Street following the company's Q1 report. ®

Remote control for virtualized desktops

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.