Amazon.com Announces First Quarter Results

______________________________

(1)

For the twelve months ended March 31, 2020 and 2021, this amount relates to equipment included in “Property and equipment acquired under finance leases” of $13,262 million and $11,489 million.

(2)

For the twelve months ended March 31, 2020 and 2021, this amount relates to property included in “Principal repayments of finance leases” of $10,013 million and $11,448 million.

(3)

Free cash flow is cash flow from operations reduced by “Purchases of property and equipment, net of proceeds from sales and incentives.”

(4)

Free cash flow less principal repayments of finance leases and financing obligations is free cash flow reduced by “Principal repayments of finance leases” and “Principal repayments of financing obligations.”

(5)

Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations is free cash flow reduced by equipment acquired under finance leases, which is included in “Property and equipment acquired under finance leases,” principal repayments of all other finance lease liabilities, which is included in “Principal repayments of finance leases,” and “Principal repayments of financing obligations.”

AMAZON.COM, INC.

Supplemental Financial Information and Business Metrics

(in millions)

(unaudited)

 

Q4 2019

Q1 2020

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Y/Y %
Change

Segments

 

 

 

 

 

 

 

North America Segment:

 

 

 

 

 

 

 

Net sales

$

53,670

 

$

46,127

 

$

55,436

 

$

59,373

 

$

75,346

 

$

64,366

 

40

%

Net sales -- Y/Y growth, excluding F/X

22

%

29

%

44

%

39

%

40

%

39

%

N/A

 

Net sales -- TTM

$

170,773

 

$

181,088

 

$

197,871

 

$

214,606

 

$

236,282

 

$

254,521

 

41

%

Operating income

$

1,900

 

$

1,312

 

$

2,141

 

$

2,252

 

$

2,946

 

$

3,450

 

163

%

F/X impact -- favorable (unfavorable)

$

(3

)

$

5

 

$

(4

)

$

 

$

7

 

$

8

 

N/A

 

Operating income -- Y/Y growth (decline), excluding F/X

(16

)%

(43

)%

37

%

76

%

55

%

162

%

N/A

 

Operating margin -- % of North America net sales

3.5

%

2.8

%

3.9

%

3.8

%

3.9

%

5.4

%

N/A

 

Operating income -- TTM

$

7,033

 

$

6,057

 

$

6,634

 

$

7,604

 

$

8,651

 

$

10,789

 

78

%

Operating margin -- TTM % of North America net sales

4.1

%

3.4

%

3.4

%

3.5

%

3.7

%

4.2

%

N/A

 

International Segment:

 

 

 

 

 

 

 

Net sales

$

23,813

 

$

19,106

 

$

22,668

 

$

25,171

 

$

37,467

 

$

30,649

 

60

%

Net sales -- Y/Y growth, excluding F/X

15

%

20

%

41

%

33

%

50

%

50

%

N/A

 

Net sales -- TTM

$

74,723

 

$

77,637

 

$

83,935

 

$

90,758

 

$

104,412

 

$

115,955

 

49

%

Operating income (loss)

$

(617

)

$

(398

)

$

345

 

$

407

 

$

363

 

$

1,252

 

N/A

 

F/X impact -- favorable (unfavorable)

$

(7

)

$

(5

)

$

32

 

$

152

 

$

232

 

$

270

 

N/A

 

Operating income/loss -- Y/Y growth (decline), excluding F/X

(5

)%

338

%

N/A

 

N/A

 

N/A

 

347

%

N/A

 

Operating margin -- % of International net sales

(2.6

)%

(2.1

)%

1.5

%

1.6

%

1.0

%

4.1

%

N/A

 

Operating income (loss) -- TTM

$

(1,693

)

$

(2,001

)

$

(1,055

)

$

(262

)

$

717

 

$

2,367

 

N/A

 

Operating margin -- TTM % of International net sales

(2.3

)%

(2.6

)%

(1.3

)%

(0.3

)%

0.7

%

2.0

%

N/A

 

AWS Segment:

 

 

 

 

 

 

 

Net sales

$

9,954

 

$

10,219

 

$

10,808

 

$

11,601

 

$

12,742

 

$

13,503

 

32

%

Net sales -- Y/Y growth, excluding F/X

34

%

33

%

29

%

29

%

28

%

32

%

N/A

 

Net sales -- TTM

$

35,026

 

$

37,549

 

$

39,976

 

$

42,582

 

$

45,370

 

$

48,654

 

30

%

Operating income

$

2,596

 

$

3,075

 

$

3,357

 

$

3,535

 

$

3,564

 

$

4,163

 

35

%

F/X impact -- favorable (unfavorable)

$

26

 

$

63

 

$

83

 

$

(20

)

$

(96

)

$

(171

)

N/A

 

Operating income -- Y/Y growth, excluding F/X

18

%

36

%

54

%

57

%

41

%

41

%

N/A

 

Operating margin -- % of AWS net sales

26.1

%

30.1

%

31.1

%

30.5

%

28.0

%

30.8

%

N/A

 

Operating income -- TTM

$

9,201

 

$

10,053

 

$

11,289

 

$

12,563

 

$

13,531

 

$

14,619

 

45

%

Operating margin -- TTM % of AWS net sales

26.3

%

26.8

%

28.2

%

29.5

%

29.8

%

30.0

%

N/A

 

AMAZON.COM, INC.

Supplemental Financial Information and Business Metrics

(in millions, except employee data)

(unaudited)

 

 

Q4 2019

Q1 2020

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Y/Y %
Change

Net Sales

 

 

 

 

 

 

 

Online stores (1)

$

45,657

 

$

36,652

 

$

45,896

 

$

48,350

 

$

66,451

 

$

52,901

 

44

%

Online stores -- Y/Y growth, excluding F/X

15

%

25

%

49

%

37

%

43

%

41

%

N/A

 

Physical stores (2)

$

4,363

 

$

4,640

 

$

3,774

 

$

3,788

 

$

4,022

 

$

3,920

 

(16

)%

Physical stores -- Y/Y growth, excluding F/X

(1

)%

8

%

(13

)%

(10

)%

(7

)%

(16

)%

N/A

 

Third-party seller services (3)

$

17,446

 

$

14,479

 

$

18,195

 

$

20,436

 

$

27,327

 

$

23,709

 

64

%

Third-party seller services -- Y/Y growth, excluding F/X

31

%

31

%

53

%

53

%

54

%

60

%

N/A

 

Subscription services (4)

$

5,235

 

$

5,556

 

$

6,018

 

$

6,572

 

$

7,061

 

$

7,580

 

36

%

Subscription services -- Y/Y growth, excluding F/X

32

%

29

%

30

%

32

%

34

%

34

%

N/A

 

AWS

$

9,954

 

$

10,219

 

$

10,808

 

$

11,601

 

$

12,742

 

$

13,503

 

32

%

AWS -- Y/Y growth, excluding F/X

34

%

33

%

29

%

29

%

28

%

32

%

N/A

 

Other (5)

$

4,782

 

$

3,906

 

$

4,221

 

$

5,398

 

$

7,952

 

$

6,905

 

77

%

Other -- Y/Y growth, excluding F/X

41

%

44

%

41

%

49

%

64

%

73

%

N/A

 

 

 

 

 

 

 

 

 

Stock-based Compensation Expense

 

 

 

 

 

 

 

Cost of sales

$

43

 

$

41

 

$

76

 

$

75

 

$

91

 

$

90

 

116

%

Fulfillment

$

286

 

$

260

 

$

417

 

$

316

 

$

364

 

$

342

 

31

%

Technology and content

$

1,007

 

$

961

 

$

1,421

 

$

1,267

 

$

1,412

 

$

1,228

 

28

%

Marketing

$

322

 

$

332

 

$

456

 

$

446

 

$

476

 

$

456

 

38

%

General and administrative

$

182

 

$

163

 

$

231

 

$

184

 

$

219

 

$

190

 

16

%

Total stock-based compensation expense

$

1,840

 

$

1,757

 

$

2,601

 

$

2,288

 

$

2,562

 

$

2,306

 

31

%

Other

 

 

 

 

 

 

 

WW shipping costs

$

12,884

 

$

10,936

 

$

13,652

 

$

15,063

 

$

21,465

 

$

17,162

 

57

%

WW shipping costs -- Y/Y growth

43

%

49

%

68

%

57

%

67

%

57

%

N/A

 

WW paid units -- Y/Y growth (6)

22

%

32

%

57

%

46

%

47

%

44

%

N/A

 

WW seller unit mix -- % of WW paid units (6)

53

%

52

%

53

%

54

%

55

%

55

%

N/A

 

Employees (full-time and part-time; excludes contractors & temporary personnel)

798,000

 

840,400

 

876,800

 

1,125,300

 

1,298,000

 

1,271,000

 

51

%

Employees (full-time and part-time; excludes contractors & temporary personnel) -- Y/Y growth

23

%

33

%

34

%

50

%

63

%

51

%

N/A

 


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