Amazon (AMZN) Tops Q1 EPS by $6.25, Revenue Beats, Offers Guidance

Amazon (NASDAQ: AMZN) reported Q1 EPS of $15.79, $6.25 better than the analyst estimate of $9.54. Revenue for the quarter came in at $108.5 billion versus the consensus estimate of $104.46 billion.

• Operating cash flow increased 69% to $67.2 billion for the trailing twelve months, compared with $39.7 billion for the trailing twelve months ended March 31, 2020.
• Free cash flow increased to $26.4 billion for the trailing twelve months, compared with $24.3 billion for the trailing twelve months ended March 31, 2020.
• Free cash flow less principal repayments of finance leases and financing obligations increased to $14.9 billion for the trailing twelve months, compared with $14.3 billion for the trailing twelve months ended March 31, 2020.
• Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to $16.8 billion for the trailing twelve months, compared with $11.7 billion for the trailing twelve months ended March 31, 2020.
• Common shares outstanding plus shares underlying stock-based awards totaled 519 million on March 31, 2021, compared with 513 million one year ago.
• Net sales increased 44% to $108.5 billion in the first quarter, compared with $75.5 billion in first quarter 2020. Excluding the $2.1 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 41% compared with first quarter 2020.
• Operating income increased to $8.9 billion in the first quarter, compared with operating income of $4.0 billion in first quarter 2020.
• Net income increased to $8.1 billion in the first quarter, or $15.79 per diluted share, compared with net income of $2.5 billion, or $5.01 per diluted share, in first quarter 2020.

GUIDANCE:

Amazon sees Q2 2021 revenue of $110-116 billion, versus the consensus of $108.68 billion.

• Net sales are expected to be between $110.0 billion and $116.0 billion, or to grow between 24% and 30% compared with second quarter 2020. This guidance anticipates a favorable impact of approximately 200 basis points from foreign exchange rates.
• Operating income is expected to be between $4.5 billion and $8.0 billion, compared with $5.8 billion in second quarter 2020. This guidance assumes approximately $1.5 billion of costs related to COVID-19.
• This guidance assumes that Prime Day occurs in second quarter 2021.
• This guidance assumes, among other things, that no additional business acquisitions, investments, restructurings, or legal settlements are concluded.

For earnings history and earnings-related data on Amazon (AMZN) click here.

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