Amazon Sales Gain But Profits Fall Short
Friday July 27th, 2012 - 12:06PM
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In the second quarter ended June 30, Amazon.com, Inc. announced that net income decreased 96% to $7 million, or 1 cent per diluted share, versus $191 million, or 41 cents per diluted share, in the 2011 period. The second quarter 2012 results include $65 million of estimated net loss related to the acquisition and integration of Kiva Systems, Inc., Amazon stated.
Profits fell a penny short of a published Thomson Reuter’s analyst consensus estimate.
Second quarter net sales increased 29% to $12.83 billion compared with $9.91 billion in the 2011 period. A $272 million unfavorable impact from year-over-year changes in foreign exchange rates in the quarter aside, net sales would have grown 32% versus the 2011 period, Amazon stated.
North America segment sales, including those at Amazon.com sites in the United States and Canada, were $7.33 billion, up 36% from second quarter 2011, the company noted. Worldwide electronics and other general merchandise sales gained 38% to $8.16 billion and 42% excluding the unfavorable impact from exchange rates.
Operating income came in at $107 million in the second quarter versus $201 million last year’s period, with the unfavorable impact of exchange rates cutting the 2012 metric by $8 million.
Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Home Environment Small Electrics Organization & Cleaning Tabletop Gadgets & Kitchen Tools Retail Financials
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