Amazon.com announces Q1 2012 results
April 27, 2012
by Suzanne Wells
Yesterday, Amazon.com announced that sales grew 34% in the first quarter of 2012. These results surprised many analysts who predicted Amazon’s spending on operations to result in a signigficant drop in profit. CNNMoney.com reported Amazon’s earnings (net income) at $130 million, showing a 35% decline from Q1 2011. Amazon.com reported total revenue of 13.18 billion, up 34% from from one year ago.
Amazon has been busy with two major acquisitions. In March, Amazon acquired Kiva Systems for a hefty price tag of $775 million. Kiva’s robotics systems will streamline Amazon’s fulfillment process, making the process two to four times faster than without robots. The robotics actually pick items from the warehouse and transfer them to humans who pack and ship orders. Another acquisition was Zappos in 2009.
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