Amazon.com reports a 18 percent increase in revenues to USD 4.89 billion in the first quarter of this year. Excluding the USD 268 million unfavourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 25 percent compared with first quarter 2008. Operating income increased 23 percent to USD 244 million in the first quarter, compared with USD 198 million in first quarter 2008. Excluding the USD 32 million unfavourable impact from year-over-year changes in foreign exchange rates throughout the quarter, operating income would have grown 39 percent compared with first quarter 2008. The net profit for the quarter grew 24 percent year-on-year to USD 177 million. Amaxon's operating cash flow was USD 1.76 billion for the trailing twelve months, compared with USD 1.04 billion for the trailing twelve months ended 31 March 2008. North America segment sales, representing Amazon's US and Canadian sites, grew by 21 percent to USD 2.58 billion and Amazon's international sales, representing Amazon's UK, German, Japanese, French and Chinese sites, grew by 15 percent to USD 2.31 billion. Excluding the unfavourable impact from year-over-year changes in foreign exchange rates throughout the quarter, International sales grew 28 percent. Amazon expects its second quarter revenues to be between USD 4.30 billion and USD 4.75 billion, or to grow between 6 percent and 17 percent compared with second quarter 2008 and its second quarter operating profit is expected to be between USD 110 million and USD 190 million, or decline between 49 percent and 12 percent compared with second quarter 2008. The second quarter 2008 results include the USD 53 million non-cash gain recognized on the sale of the company's European DVD rental assets.
Source: http://www.telecompaper.com/news/article.aspx?cid=668861
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