Amazon's sales surge in first quarter

US e-commerce giant Amazon’s sales increased by 13 percent in the first quarter of this year compared to the same period last year, reaching $143.3 billion. According to the company’s balance sheet for the January-March period, its revenue in the first quarter of the year increased by approximately 13 percent compared to the same period last year, reaching $143.3 billion. The company’s net sales in the first quarter of 2023 were $127.4 billion. Market expectations were for the company to report $142.5 billion in revenue. Sales of its Amazon Web Services (AWS) unit, which provides cloud computing services, also increased by 17 percent annually, reaching $25 billion. The company’s advertising unit’s revenues also increased by 24 percent in the first quarter of the year, reaching $11.8 billion. Amazon’s net profit also increased by approximately 229 percent in the first quarter, reaching $10.4 billion. The company had reported a profit of approximately $3.2 billion in the same period last year. The e-commerce giant's net income per share was also calculated at 98 cents in the first quarter of this year. The company made a profit of 31 cents per share in the same period last year. Amazon, on the other hand, announced that it expects revenue between $144 billion and $149 billion in the second quarter of this year.