And you thought Apple’s financials were hard to explain. Amazon just delivered a net income of $8.1 billion on revenues of $108.5 billion, a record for the first quarter.
Amazon founder and CEO Jeff Bezos delivered a non-sensical quote in the earnings announcement—I guess he’s eager to move on—so I’ll just move forward to the handful of data points that the company provided about the quarter:
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Amazon Prime. There are now more than 200 million paid Prime members worldwide.
Prime Video turns 10. Amazon’s video streaming service was used by over 175 million Prime members in the past year and streaming hours are up over 70 percent year-over-year. Thanks, COVID!
AWS turns 15. AWS is now a $54 billion business—based on annual sales run rate—and its growth has accelerated to 32 percent YOY.
Operating cash flow. Amazon’s operating cash flow increased 69 percent to $67.2 billion, compared with $39.7 billion for the previous 12 months.
Amazon also notes that it’s making progress towards its goal of using 100 percent renewable energy by 2025. It is now the largest corporate purchaser of renewable energy globally.
The firm expects net sales in the current quarter to land somewhere between $110.0 billion and $116.0 billion, which would represent YOY growth of between 24 and 30 percent.