Amazon (AMZN) announced the fiscal 2011 first quarter earnings report in the after-hours session Thursday. The report shows that Amazon’s first quarter net sales of $13.18 billion, an increase of 34 percent over last year’s $9.86 billion; net profit of $130 million, down 35 percent from $201 million in the same period last year. Amazon’s first quarter results exceeded the Wall Street expectations, sending AMZN stock price to rise by 12 percent in the after-hours trading.
Amazon realized $130 million in net profit, or earnings per share of 28 cents for the quarter ended March 31, less than $201 million, or earnings per share of 44 cents in the same period last year. Amazon’s first-quarter operating profit was $192 million, down 40 percent from $322 million in the same period last year; in the first quarter, the exchange rate changes brought in a negative impact of $4 million on Amazon’s operating profit compared with a year ago. Amazon’s first quarter net sales reached $13.18 billion, an increase of 34 percent over last year’s $9.86 billion.
Amazon’s first quarter results exceeded the analyst estimates. Analysts polled by FactSet Research survey on average projected Amazon would realize first quarter earnings of 6 cents per share on revenue of $12.9 billion.
Amazon projected the fiscal 2012 second quarter net sales would be $11.9 billion to $13.3 billion, an increase of 20 percent to 34 percent compared with the same period last year; including the stock compensation expenditures and amortization spendings of intangible assets aggregately worth $260 million. According to the survey by Thomson Reuters analysts had expected Amazon’s second-quarter net sales of $12.8 billion and operating profit of approximately $97 million.
AMZN stock price rose $1.57, or 0.81 percent on the Nasdaq Stock Exchange in the regular trading, to close at $195.99 per share. In the after-hours trading, AMZN stock price surged 14.27 percent, or $27.96. Over the past 52 weeks, the highest AMZN stock price was $246.71 while the lowest price was $166.97.