Amazon reports solid quarter results

Amazon.com posted solid increases in earnings and revenue and exceeded expectations for those two areas in its first quarter of...

Amazon.com posted solid increases in earnings and revenue and exceeded expectations for those two areas in its first quarter of this year.

Amazon credited its emphasis on lower prices and its ever-increasing selection of products for its strong showing in the quarter, which ended 31 March.

Compared with 2003's first quarter, Amazon's net revenue grew 41% to $1.53bn. Excluding an $87m benefit from foreign exchange rates, net revenue rose 33%.

Net income came in at $111.1m compared with a net loss of $10.1m in 2003's first quarter.

North America sales, made up of sales from the company's US and Canadian sites, grew 20% to $847m, while international segment sales, generated from the UK, Germany, France and Japan sites, rose 80% to $684m compared with 2003's first quarter.

Looking ahead, the company expected second-quarter net revenue to be between $1.34bn and $1.44bn, which would represent growth of between 22% and 31%, compared with 2003's second quarter.

For the full 2004 year, net revenue is expected to be between $6.45bn and $6.85bn.

Juan Carlos Perez writes for IDG News Service

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