Amazon Announces First Quarter Results
SEATTLE, WA - Amazon’s first quarter 2021 results are a smörgåsbord of operational insights and expansion strategies, as the retailer continues to tighten its grip on multiple markets.
On top of being ranked #1 on LinkedIn’s 2021 Top Companies, Amazon is upping its commitment to both its workforce and the businesses it supports. With goals to power its businesses with 100 percent renewable energy by 2025, Amazon is partnering with industry innovators to deploy electric vehicles across its operations. The retailer is also expanding its air cargo network.
After its quarterly earnings hit the newswire, the retailer's stock price settled at $3,471.31 at market's close on April 29. CNBC also reported that after the company released its first-quarter earnings, beating Wall Street’s expectations for earnings and revenue, shares climbed 3+ percent in extended trading that day.
The video below goes into greater detail.
Highlights from the company’s quarterly are as follows:
- Operating cash flow increased 69 percent to $67.2 billion for the trailing twelve months
- Free cash flow increased to $26.4 billion for the trailing twelve months
- Free cash flow less principal repayments of finance leases and financing obligations ncreased to $14.9 billion for the trailing twelve months
- Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to $16.8 billion for the trailing twelve months
- Common shares outstanding plus shares underlying stock-based awards totaled 519 million on March 31, 2021
- Net sales increased 44 percent to $108.5 billion in the first quarter
- Operating income increased to $8.9 billion in the first quarter
- Net income increased to $8.1 billion in the first quarter, or $15.79 per diluted share
In the financial guidance section, Amazon noted that it expects its second quarterly net sales to be between $110 billion and $116 billion—a growth between 24 and 30 percent over last year.
To learn more about Amazon’s extensive plans and successes for this quarter and beyond, click here for the full report.