Amazon slips back into the red in Q1

Amazon.com Inc. saw its financial results slide back into the red in its first fiscal quarter after a boost from its online stores overseas failed to offset soft post-holiday sales, the company reported Tuesday.

The online retailer posted US$847 million in revenue for the three months ended March 31, a 21 percent increase over $700 million in revenue reported for the same period in 2001, the company said in a statement.

Including restructuring charges and other items, Amazon reported a net loss for the quarter of $23 million, or $0.06 per share. In the same quarter a year ago it posted a net loss including charges of $234 million, or $0.66 per share.

Excluding charges, Amazon reported a net loss for the quarter just ended of $5 million, or $0.01 per share, the company said.

Amazon posted its first-ever net profit in January when it released results for its fourth fiscal quarter of 2001. The company forecasted Tuesday a 15 percent to 22 percent increase in revenue for the second quarter and pro forma operating income of between $5 million and $15 million, according to the statement.

The company's core books, music and movies segment showed an 8 percent growth in sales year on year.

In addition, business overseas jumped during the period, with sales from Amazon's U.K., German, French and Japanese sites rising a combined 71 percent over last year's first quarter. Total international sales for the quarter were $226 million.

"The European stores remain strong," said Warren Jenson, chief financial officer at Amazon, during a conference call with press and analysts. "Growth in Germany and the U.K. was in excess of 50 percent."

The company continued its price cutting measures by discounting books priced at $15 or more by 30 percent. Amazon had previously set a minimum price of $20 for the 30 percent reduction.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Ashlee Vance

PC World
Show Comments

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?