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World's biggest online retailer Amazon slips into Q1 loss
28
Apr '15
The world’s biggest online retailer, Amazon.com reported a net loss in the first quarter ended March 31, 2014 as against net income in the corresponding quarter of 2014.

Net loss in the first quarter of 2015 stood at $57 million or $0.12 per diluted share, compared with net income of $108 million or $0.23 per diluted share, the online retailer posted in first quarter of 2014.

This happened despite operating income zooming 74 per cent to $255 million in the quarter under review compared with operating income of $146 million in the prior year first quarter.

However net sales climbed 15 per cent to $22.72 billion in the reporting quarter from $19.74 billion in the same quarter of 2014.

“Excluding the $1.3 billion unfavourable impact from year-over-year changes in foreign exchange rates, net sales increased 22 per cent compared to first quarter of 2014,” Amazon said in a press release.

Operating cash flow increased 47 per cent to $7.84 billion for the trailing twelve months as against $5.35 billion for the trailing twelve months ended March 31, 2014.

In the same comparable trailing twelve month periods, free cash flow more than doubled to $3.16 billion from $1.49 billion.

“Common shares outstanding plus shares underlying stock-based awards totaled $483 million on March 31, 2015, compared with $476 million one year ago,” it added.

In the quarter, Amazon Fashion emerged as a top category on Amazon India and the retailer also partnered with the Fashion Design Council of India as the official title sponsor of the India Fashion Week.

“Amazon Web Services (AWS) is a $5 billion business and still growing fast and in fact it is accelerating,” said Jeff Bezos, founder and CEO of Amazon.

“Born a decade ago, AWS is a good example of how we approach ideas and risk-taking at Amazon and we strive to focus relentlessly on the customer, innovate rapidly and drive operational excellence,” he too added.

“We manage by two seemingly contradictory traits; impatience to deliver faster and a willingness to think long term,” Bezos observed.

For the second quarter of 2015, Amazon expects net sales to be between $20.6 billion and $22.8 billion and projects operating income of $50 million or operating loss of $500 million in the same quarter.

According to the online retailer, this guidance includes approximately $600 million for stock-based compensation and amortisation of intangible assets.

It also assumes that there will be no new business acquisitions, investments, restructurings or legal settlements are concluded and there will be no further revisions to stock-based compensation estimates. (AR)

Fibre2fashion News Desk - India

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