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Amazon Q1 results beat expectations
2016-04-29 08:28:00| Telecompaper Headlines
(Telecompaper) Amazon.com reported a strong improvement in first-quarter results. Net sales increased 28 percent to USD 29.1 billion, operating income was nearly four times higher at USD 1.1 billion versus USD 255 million a year ago, and the net result improved to a profit of USD 513 million from a loss of USD 57 million. The company's free cash flow doubled year-on-year to USD 6.4 billion on a trailing 12-month basis. Amazon highlighted the strong sales of its own products, with twice as many Fire tablets sold as in the first quarter last year and its Fire TV Stick clocking up a record 100,000 reviews, more than any other product ever sold on Amazon. For the second quarter, Amazon forecast net sales of USD 28.0-30.5 billion, an increase of 21-32 percent from a year earlier. Operating profit is expected at USD 375-975 million, versus USD 464 million in second quarter 2015.
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Category:Telecommunications