Amazon released the earnings results from its first fiscal quarter after closing bell tonight. The online retailer posted losses of 13 cents per share on $22.72 billion in sales. Analysts had been expecting Amazon to report losses of 12 cents per share on $22.39 billion in revenue. In the same quarter a year ago, the company reported earnings of 23 cents per share on $25.59 billion in revenue.
Key metrics from Amazon’s earnings report
Amazon said operating cash flow increased 17% to $7.84 billion, while free cash flow rose to $3.16 billion. Net product sales were $17.084 billion, while net service sales were $5.633 billion for the quarter. Net sales in North America rose from $10.8 billion to $13.406 billion in the quarter, while international net sales declined from $7.9 billion to $7.745 billion for the first quarter.
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Amazon Web Services recorded $1.566 billion in net sales, compared to $1.05 billion in the same quarter a year ago. The segment also introduced a number of new features and services, including Amazon Machine Learning, Amazon Web Services Marketplace for Desktop Apps and others.
“Amazon Web Services is a $5 billion business and still growing fast — in fact it’s accelerating,” Amazon founder and CEO Jeff Bezos said in a statement. “Born a decade ago, AWS is a good example of how we approach ideas and risk-taking at Amazon. We strive to focus relentlessly on the customer, innovate rapidly, and drive operational excellence. We manage by two seemingly contradictory traits: impatience to deliver faster and a willingness to think long term.”
During the quarter, Amazon launched its Dash button to reorder items and the Dash Replenishment Service. The company also revealed new Amazon Fire TV and Fire TV stick features. The company also noted that selection of Fire TV apps and games is up by five times.
Amazon provides guidance
Management said they expect net sales for the second quarter to be between $20.6 billion and $22.8 billion and operating income to be between a loss of $500 million and income of $50 million.