Amazon first quarter profits fall to $82 million as sales jump 22%

Amazon first quarter profits fall to $82 million as sales jump 22%:

Amazon's Q1 for 2013 was a bit of a mixed bag. The company saw net income drop 37 percent year-over-year to $82 million, though its net sales were up 22 percent to $16.1 billion. The sequential drop in profits was small (from $97 million) considering Q4's holiday inflation. Product sales accounted for the vast majority of that income, with its various branded services only pulling in $2.8 billion. The United States is still the company's biggest market, with $9.4 billion of that sales revenue coming from here. The rest of the globe only accounted for $6.7 billion, though media was particularly strong in those markets. Media sales were $2.55 billion over seas and just $2.51 billion in the US. Looking over the numbers, its clear that Amazon has a steady stream of reliable income that is continuing to grow. In fact, the company expects another quarter of double-digit growth year-over-year for Q2. But, as we've learned, there are also huge expenses involved. And guidance for next quarter tops out at $10 million in net income -- and a potential loss of up to $340 million (though such a steep fall seems unlikely). Unfortunately, there are no specific numbers for its various kindle products buried in the report (which you'll find after the break), but hopefully the 5PM ET call will offer a comprehensive breakdown. Updates from which you'll find after the break.
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Source: Amazon