Amazon shares soared after Q1 financial results beat expectations. Net sales increased 43% to $51.0 bn in the first quarter, compared with $35.7 billion in first quarter 2017. Operating income increased 92% to $1.9bn year-over-year. The company’s net income was $1,629m was up 125.0%.
Net product sales grew 33.2% year-over-year to $31.6bn. Net service sales grew 62.3% on the back of impressive results in its cloud computing segment AWS.
North American net sales (excluding AWS) were up 62.2% and European sales on the same basis grew 34.9%. Net sales from online stores totalled $26,939m, up 18.0% year-over-year. Third-party seller services grew 43.9% to $9,265m. This figure includes commissions, related fulfilment and shipping fees, and other third-party seller services.
Fulfilment expenses totalled $7,792, up 65.6% year-over-year. Worldwide shipping costs of $6,069m were 38.5% higher on the same basis.
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