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Net sales up 28% in Q1 2016 to $29.1 b at Amazon
04
May '16
Amazon, a US based global e-commerce firm, reported a rise of 28 per cent in its net sales to $29.1 billion in the first quarter of 2016, ended March 31, as compared to $22.7 billion in the corresponding period last year, owing to an increase in demand for Amazon devices.

Commenting on the demand, Jeff Bezos, founder and CEO of Amazon said, “Amazon devices are the top selling products on Amazon, and customers purchased more than twice as many Fire tablets than first quarter last year.”

“We're building premium products at non-premium prices, and we're thrilled so many customers are responding to our approach,” he added.

Net income was $513 million or $1.07 per diluted share in Q1 2016, compared with net loss of $57 million or $0.12 per diluted share in first quarter 2015.

Operating income was $1.1 billion in the first quarter, compared with $255 million in first quarter 2015.

The company expects net sales to be in the range of $28-$30.5 billion in the second quarter of 2016.

Operating income is expected to be in the range of $375-$975 million during this period. (MCJ)

Fibre2Fashion News Desk - India


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