Amazon Q1 Profit Falls 33%
26 Apr, 2011 By: Erik Gruenwedel
Online retail behemoth Amazon Inc. April 26 reported first-quarter (ended March 31) income of $201 million, down 33% from income of $299 million during the previous-year period.
Seattle-based Amazon attributed the decline to a 41% increase in operating expenses driven in part by myriad new platforms launched in the quarter, including the Amazon Cloud drive, Amazon Cloud player for Web and Amazon Cloud player for Android; an Appstore for Android; and the Amazon Prime free subscriber-based movie and TV show streaming service, among others.
North American media revenue, which includes DVD/Blu-ray Disc and VOD movies and TV shows, increased 18% to nearly $1.9 billion, compared with nearly $1.6 billion last year. Consumer electronics and general merchandise revenue increased 63% to $3.3 billion from $2 billion last year.
North American net sales increased 45% to $5.4 billion from $3.7 billion last year.
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