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1q21 Revenue $108.5 billion, net profit increased 220% year on year From Amazon

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On April 30, 2021, Amazon today released its financial results for the first quarter of fiscal year 2021. According to the report, Amazon’s net profit in the first quarter was US $8.107 billion, an increase of 220% compared with the net profit of US $2.535 billion in the same period last year; Net sales amounted to US $108.518 billion, an increase of 44% compared with us $75.452 billion in the same period last year, and a year-on-year increase of 41% excluding the impact of exchange rate changes.

Amazon’s first quarter results exceeded Wall Street analysts’ expectations and its outlook for the second quarter also exceeded expectations, driving its after hours share price up more than 3%.

Main achievements:

In the quarter ended March 31, Amazon’s net profit was $8.107 billion and diluted earnings per share was $15.79, which was much better than the same period last year. In the first quarter of fiscal year 2020, Amazon’s net profit was $2.535 billion and diluted earnings per share was $5.01.

Amazon’s first quarter operating profit was $8.865 billion, compared with $3.989 billion in the same period last year.

Amazon’s total operating expenses in the first quarter were $99.653 billion, up from $71.463 billion in the same period last year. Among them, the cost of sales was 62.403 billion US dollars, higher than 44.257 billion US dollars in the same period of last year; The expenditure on performance was 16.530 billion US dollars, higher than 11.531 billion US dollars in the same period of last year; Marketing expenditure was US $6.207 billion, higher than US $4.828 billion in the same period of last year; The expenditure on technology and content was 12.488 billion US dollars, up from 9.325 billion US dollars in the same period of last year; The expenditure on general affairs and administration was 1.987 billion US dollars, higher than 1.452 billion US dollars in the same period of last year; Other operating expenses were $38 million, compared with $70 million in the same period last year.

Amazon’s net sales in the first quarter were $108.518 billion, up 44% from $75.452 billion in the same period last year. Excluding the positive impact of $2.1 billion brought about by exchange rate changes, Amazon’s net sales in the first quarter increased by 41% compared with the same period last year.

In January of this year, Amazon predicted net sales of $100 billion to $106 billion in the first quarter of fiscal 2021, an increase of 33% to 40% year on year, including the positive impact of about 300 basis points due to exchange rate changes. Amazon also expected operating profit of $3 billion to $6.5 billion in the first quarter of fiscal 2021.

Amazon’s first quarter revenue exceeded Wall Street analysts’ expectations, and earnings per share also far exceeded expectations. According to data provided by Yahoo Finance Channel, 36 analysts had expected Amazon’s net sales to reach $104.46 billion in the first quarter on average, while 37 analysts had expected Amazon’s earnings per share to reach $9.54 in the first quarter on average.

Operation data:

Amazon’s net product sales in the first quarter were $57.491 billion, up from $41.841 billion in the same period last year; Net sales of services were US $51.027 billion, up from US $33.611 billion in the same period last year.

By region, Amazon’s North American division (the United States and Canada) had a net sales of $64.366 billion in the first quarter, up 40% from $46.127 billion in the same period last year; Operating profit was $3.450 billion, up from $1.312 billion in the same period last year.

Amazon’s international division (UK, Germany, France, Japan and China) had net sales of US $30.649 billion in the first quarter, up 60% from US $19.106 billion in the same period of last year; Operating profit was $1.252 billion, compared with an operating loss of $398 million in the same period last year.

Amazon’s AWS cloud service net sales in the first quarter was US $13.503 billion, up 32% from US $10.219 billion in the same period of last year; Operating profit was $4.163 billion, up from $3.075 billion in the same period last year.

Amazon’s sales from North America accounted for 59% of total sales in the first quarter, compared with 61% in the same period last year; Sales from the international sector accounted for 28% of total sales, compared with 25% in the same period last year; Sales from AWS cloud services accounted for 13% of total sales, compared with 14% in the same period last year.

Classified by service and business type, Amazon’s net sales from online stores in the first quarter were US $52.901 billion, an increase of 44% compared with us $36.652 billion in the same period of last year, and a year-on-year increase of 41% excluding the impact of exchange rate changes;

Net sales from physical stores were US $3.920 billion, down 16% from US $4.640 billion in the same period of last year. Excluding the impact of exchange rate changes, net sales from physical stores decreased by 16% over the same period of last year;

Net sales from third-party seller services were US $23.709 billion, an increase of 64% compared with us $14.479 billion in the same period of last year, and a year-on-year increase of 60% excluding the impact of exchange rate changes;

Net sales from subscription services amounted to US $7.580 billion, up 36% from US $5.556 billion in the same period of last year, with a year-on-year growth of 34% excluding the impact of exchange rate changes;

The net sales from AWS cloud services was US $13.503 billion, up 32% compared with us $10.219 billion in the same period of last year. Excluding the impact of exchange rate changes, the net sales increased 32% compared with the same period of last year;

Net sales from other businesses were US $6.905 billion, up 77% from US $3.906 billion in the same period of last year, and 73% year-on-year, excluding the impact of exchange rate changes.

Cash flow information:

In the 12 months ended March 31, 2021, Amazon’s operating cash flow was $67.2 billion, an increase of 69% over the same period last year; In the 12 months to March 31, 2020, Amazon’s operating cash flow was $39.7 billion.

In the 12 months to March 31, 2021, Amazon’s free cash flow was $26.4 billion, up from the same period last year; In the 12 months to March 31, 2020, Amazon’s free cash flow was $24.3 billion.

After deducting the principal repayment of the lease, Amazon’s free cash flow in the past 12 months was $14.9 billion, up from the same period last year; In the 12 months ended March 31, 2020, Amazon’s free cash flow after deducting the above items was $14.3 billion.

Amazon’s free cash flow in the past 12 months was US $16.8 billion, higher than that in the same period last year, after deducting the repayment of the principal of the financial lease and the assets acquired under the capital lease; In the 12 months ended March 31, 2020, Amazon’s free cash flow after deducting the above items was $11.7 billion.

Performance expectations:

Amazon expects net sales to reach $110 billion to $116 billion in the second quarter of fiscal 2021, up 24% to 30% year-on-year, including a positive impact of about 200 basis points due to exchange rate changes.

Amazon also expects operating profit of $4.5 billion to $8 billion in the second quarter of fiscal 2021, compared with $5.8 billion in the same period in 2020. It is expected that the cost associated with the new coronavirus will reach about US $1.5 billion.

The above guidance assumes that prime day activities will take place in the second quarter of 2021.

Amazon’s average forecast for net sales in the second quarter was $113 billion, exceeding analysts’ expectations. According to data provided by Yahoo Finance Channel, 34 analysts on average expect Amazon’s net sales in the second quarter to reach $108.1 billion.

Via Sina Technology

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