Amazon.com Announces First Quarter 2008 Earnings
By Ina Steiner
*Amazon.com Inc. announced financial results for its first quarter ended March 31, 2008. Net sales increased 37% to $4.13 billion in the first quarter, compared with $3.02 billion in first quarter 2007. Excluding the $0.18 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales grew 31% compared with first quarter 2007. Net income increased 30% to $143 million in the first quarter, compared with net income of $111 million in first quarter 2007.
Some interesting factoids picked out of Amazon.com's press release include:
- The number of sellers using Fulfillment by Amazon increased by more than 50% compared with fourth quarter 2007
- North America segment sales, representing the Company's U.S. and Canadian sites, were $2.13 billion, up 31% from first quarter 2007.
- International segment sales, representing the Company's U.K., German, Japanese, French and Chinese sites, were $2.01 billion, up 44% from first quarter 2007, and increased to 49% of worldwide net sales compared with 46%. Excluding the favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, International sales grew 31%.
- Worldwide Media sales grew 28% to $2.54 billion in first quarter 2008, compared with $1.99 billion in first quarter 2007.
- Worldwide Electronics & Other General Merchandise sales grew 56% to $1.48 billion in first quarter 2008, compared with $0.95 billion in first quarter 2007, and increased to 36% of worldwide net sales compared with 31%.
"Our sales growth this quarter was driven by low prices and millions of in-stock items available for immediate shipment," said Jeff Bezos, founder and CEO of Amazon.com. "We're grateful to our customers."
About the author:
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to firstname.lastname@example.org.
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