Amazon.com, Inc. (NASDAQ:AMZ) reported net sales increased 43% to $51.0 billion in the first quarter, compared with $35.7 billion in first quarter 2017. Excluding the $1.6 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 39 percent compared with first quarter 2017.

Operating income increased 92 percent to $1.9 billion in the first quarter, compared with operating income of $1.0 billion in first quarter 2017. Net income more than doubled to $1.6 billion in the first quarter, compared with net income of $724 million in first quarter 2017.

Operating cash flow increased 4 percent to $18.2 billion for the trailing twelve months, compared with $17.5 billion for the trailing twelve months ended Mar. 31, 2017. Free cash flow decreased to $7.3 billion for the trailing twelve months, compared with $10.1 billion for the trailing twelve months ended March 31, 2017.

Amazon’s quarterly sales got a large boost from Whole Foods, which it acquired last year and accounts for most of its physical stores revenues, with $4.3 billion in physical stores first-quarter revenue. Sales in its largest segment – online stores – were up 18 percent in the quarter year over year to $26.9 billion.

Quarter Highlights for Business

Amazon Global Selling allows small and medium-sized businesses to more easily connect with international customers. In 2017, global sellers’ sales grew by more than 50% worldwide, representing more than 25% of total third-party seller sales on Amazon.

Amazon launched Fulfillment by Amazon (FBA) in Australia, offering small and medium-sized businesses selling on Amazon.com.au the ability to leverage the Amazon fulfillment network to better scale and reach more customers.

In Europe, Amazon launched additional locations for public fulfillment center tours in Spain, Italy, and the U.K., joining over 25 other sites across North America and Europe.