Amazon.com reports profit in Q1

Amazon.com reported net income of 513 million dollars or 1.07 dollars per diluted share for its first quarter ended March 31, 2016, compared with net loss of 57 million dollars or 0.12 dollars per diluted share, in first quarter 2015.

Net sales increased 28 percent to 29.1 billion dollars in the quarter, compared with 22.7 billion dollars in first quarter 2015. Excluding the 210 million dollar unfavourable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 29 percent and operating income was 1.1 billion dollars compared with 255 million dollars in first quarter 2015.

For the second quarter, net sales are expected to be between 28 billion dollars and 30.5 billion dollars, or to grow between 21 percent and 32 percent compared with second quarter 2015. Operating income is expected to be between 375 million dollars and 975 million dollars compared with 464 million dollars in second quarter 2015.