E-commerce giant Amazon.com Inc. (NASDAQ: AMZN) Tuesday reported a sharp increase in net sales and earnings for the first quarter of 2024.
Net sales increased to $143.3 billion in the first quarter from $127.4 billion in the prior-year period and came in above Wall Street’s forecast. For the second quarter, the company expects sales to be in the range of $144 billion to $149 billion.
Driven by the strong top-line growth, net income climbed to $10.43 billion or $0.98 per share in the March quarter from $3.17 billion or $0.31 per share a year earlier. Earnings also exceeded analysts’ estimates.