Amazon reports blockbuster Q1 2021 earnings, net sales at $108.5 billion

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A day after Microsoft, Apple, Samsung, and other tech companies reported their quarterly financial results, Amazon today announced its quarterly earnings for the first quarter of 2021 ending March 31. The company reported net sales of a whopping $108.5 billion, up by 44% compared to the same quarter last year. Operating income more than doubled year-over-year to $8.9 billion, with the company continuing to grow faster than ever during the pandemic. Net income stood at $8.1 billion, up from $2.5 billion in Q1 2020.

The firm provided a few highlights that included subscription stats for its services and updates about its various support programs. The company says that there are “more than 200 million” Prime members worldwide, adding that it will be holding its Prime Day deals event in the second quarter for these members.

Prime Video, its content streaming service, is now 10 years old and has over 175 million members. The company also noted that the service will be the first to “secure an exclusive national broadcast package from the NFL” as it becomes the exclusive platform for Thursday Night Football beginning in 2023, which is a 10-year deal. The company did not provide any usage stats for Amazon Music.

As for Amazon Web Services (AWS), the company’s cash cow, the service turns 15 years old and is a $54 billion annual sales run rate business. This marks a 32% increase year-over-year, the company adds. It also highlighted the launch of its second full region in Japan, an expansion of its existing Osaka Local Region.

Amazon adds that it aims to use 100% renewable energy by the year 2025, cutting five years off its earlier 2030 target. In India, it aims to induct 100,000 electric vehicles into its delivery fleet by 2030, with 10,000 vehicles expected to make it to its fleet by 2025.

As for the second quarter, the company expects net sales to be between $110.0 billion and $116.0 billion – up from the $88.9 figure for Q2 2020 – growing by 24% to 30%. It also expects net income to be between $4.5 billion and $8 billion.

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