Amazon reported its profits grew 41 percent for the first quarter, in no small part thanks to the global expansion of its retail and enterprise initiatives.
First-quarter net sales increased 23 percent to $35.7 billion, compared with $29.1 billion in the prior-year period, the e-tailer said. North America net sales were $21 billion, up 27 percent from the prior year’s $17 billion.
Operating income dropped 6 percent to $1 billion for the quarter, ended March 31, vs. $1.1 billion in Q1 2016. North America operating income was $596 million vs. the prior year’s $588 million.
Net income was $724 million in the first quarter, or $1.48 per diluted share, compared with net income of $513 million, or $1.07 per diluted share, in first quarter 2016.
Operating cash flow increased 53 percent to $17.6 billion for the previous 12 months, compared with $11.6 billion for prior-year period. Free cash flow, meanwhile, increased to $10.2 billion for the previous 12 months vs. $6.7 billion for the prior-year period.
The e-tailer cited a long list of initiatives that contributed to its gains, including its growing inroads in India and the launch of Prime in Mexico last month. Amazon.in is the most visited site on both desktop and mobile based on analytics from ComScore and SimilarWeb, Amazon noted.