The following is an excerpt from Eric Savitz | April 26, 2012 | Forbes.com |
Amazon.com is, well, on fire.
The online retailer and Web infrastructure provider reported Q1 revenues of $13.18 billion, up 34%, and ahead of the Street consensus at $12.9 billion. Net income was 28 cents a share, quadruple – quadruple! – the Street consensus at 7 cents.
The company also noted that it bought back 5.3 million shares in the March quarter for $960 million.
North American sales were up 36%; international sales were up 31%. Worldwide Media sales were up 19%. Electronic and other general merchandise sales were up 43%.
Amazon said it sees Q2 sales of $11.9 billion to $13.3 billion; Street consensus was $12.8 billion. The company sees operating income for the quarter ranging from a loss of $260 million to a profit of $40 million; either end of the range would be down from $192 million in the first quarter.
In the release, CEO Jeff Bezos focused on e-books, noting that the company has more than 130,000 in-copyright books that are exclusive to the Kindle store. He notes that the company is the exclusive electronic seller on 16 of its 100 top selling titles.
AMZN in late trading is up $18.21, or 9.3%, to $214.20.
Update: Here are some of the things Amazon didn’t say: How many Kindles did they sell in the quarter? How many e-books? How is the Fire tablet doing in terms of units. How large is the Amazon Web Services business, and how fast is it growing? Irritatingly, the company continues to decline to breakout the performance of some of its most interesting businesses.
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