Amazon has announced its financial results for the first quarter ended March 31, 2021.
Net sales increased 44% to $108.5bn in Q1 2021, compared with $14.3bn in the same period in 2020. Excluding the $2.1bn favourable impacts from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 41% compared with the first quarter of 2020.
North America net sales totalled $64.4bn, up from $46.1bn in Q1 2020. Operating expenses grew to $60.9bn, from $44.8bn last year. While operating income increased to $3.5bn, from $1.3bn in Q1 2021.
International net sales amounted to $30.6bn in Q1 2021, up from £19.1bn in 2020. Operating expenses increased to $29.3bn, from $19.5bn in 2020. Operating income also increased to $1.3bn, up from -$398m in Q1 2020.
Net sales for Amazon Web Services increased to $13.5bn in Q1 2020, from last year’s $10.2bn; while operating expenses increased to $9.3bn, from $7.1bn in Q1 2020 and operating income rose to $4.2bn, from $3.1bn in Q1 2020.
In addition to a strong financial performance, Amazon has announced the launch of a new hub in Southern California as part of the company’s continued investments into Amazon Air. Amazon Air is one of Amazon’s largest investments in the company’s transportation and logistics network, with more than 70 aircraft making daily flights to over 35 sites across the US and Puerto Rico.
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