Amazon.com Inc. (Nasdaq: AMZ) reported sales of $108.5 billion in the first quarter, up 30.5% compared to the same quarter in 2020. Net income was $8.1 billion in the first quarter, up 68.7% from the year-ago period.
Net product sales accounted for $57.5 billion, up 27.2% year over year from $41.8 billion. Net service sales hit $51 billion, up 34.1% from the prior year’s $33.6 billion.
North American net sales were $64.4 billion, up 28.3% from the first quarter of 2020. International net sales totaled $30.6 billion, up 37.7%. And Amazon Web Services revenue hit $13.5 billion during the quarter, up 24.3% from a year earlier.
The company said of its Amazon Business division: “Amazon Business, the company’s global procurement solution, now serves more than five million businesses and generated $25 billion in worldwide annualized sales. More than half of unit sales are from third-party sellers, such as women-, minority-, or veteran-owned businesses that have been certified by U.S. diversity-certifying organizations such as the Department of Veterans Affairs and Women’s Business Enterprise National Council. In the U.S., Amazon Business serves 45 states and 80 of the Fortune 100 companies, including Citigroup, Intel, Cisco, and ExxonMobil.”