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SEATTLE: April 28, 2017. Amazon has reported net income of US$724 million on sales of US$35.71 billion for the first quarter of 2017. Results for the same period last year were US$513 million and US$29.13 billion respectively.

AmazonJobs desktop. CB520457356 Revenue from fulfillment, commissions and shipping fees to third parties who use the Amazon.com platform rose 34 percent year-on year to reach US$6.44 billion. By comparison, Amazon retail and digital sales on its own behalf rose 15 percent to US$22.82 billion.

During the first quarter, worldwide shipping revenue increased 37 percent to US$2.5 billion as net shipping costs rose 34 percent to US$4.38 billion year-on-year.

Commenting on the results founder and CEO Jeff Bezos highlighted his company's growth in India saying fulfillment capacity for sellers had already risen 26 percent this year.

"We're grateful that customers are responding - Amazon.in is the most visited and the fastest growing marketplace in India," he said. "It's still Day 1 for e-commerce in India, and I assure you that we'll keep investing in technology and infrastructure while working hard to invent on behalf of our customers and small and medium businesses in India."

At the end of March, Amazon employed 351,000 full and part-time staff worldwide - a rise of 43 percent over Q1 2016. Earlier this month the company announced plans to build three more fulfillment centers in New Jersey and hire another 2,500 full-time employees. "Our ability to expand in New Jersey is the result of two things: incredible customers and an outstanding workforce,” said Akash Chauhan, Amazon’s vice president of North American Operations.

Amazon global net sales are expected to grow 16-24 percent to reach US$35.25 billion to US$37.75 billion in Q2 2017, and assumes foreign exchange losses of US$720 million. Operating income is forecast between US$425 million and US$1.075 billion, compared with US$1.3 billion in Q2 last year.

CSAFE Global




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