Amazon.com posts 1Q net sales growth

SEATTLE Amazon.com announced that net sales for its first quarter ended March 31 increased 37% to $4.13 billion compared with $3.02 billion in first quarter 2007. Excluding the $0.18 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales grew 31% compared with first quarter 2007.

Operating income increased 36% to $198 million in the first quarter compared with $145 million in first quarter 2007. Excluding the $14 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, operating income grew 27% compared with first quarter 2007.

Net income increased 30% to $143 million in the first quarter, or 34 cents per diluted share, compared with net income of $111 million, or 26 cents per diluted share, in first quarter 2007.

“Our sales growth this quarter was driven by low prices and millions of in-stock items available for immediate shipment,” said Jeff Bezos, founder and ceo of Amazon.com. “We’re grateful to our customers.” 

The company expects second quarter net sales to be between $3.9 billion and $4 billion, or to grow between 34% and 41% compared with second quarter 2007.