The 2020 Mid-Year Economic Update_long

Amazon First Quarter Sales Up 26.4%

Net product sales accounted for $41.8 billion, up 22% year over year from $34.3 billion., Inc. (NASDAQ:AMZ) reported sales of $75.4 billion in the first quarter, up 26.4% compared to the same quarter in 2019. Net income was $2.5 billion in the first quarter, down 28.8% in first quarter 2019.

Net product sales accounted for $41.8 billion, up 22% year over year from $34.3 billion. Net service sales hit $33.6 billion, up 32.2% from the prior year’s $25.4 billion.

North American net sales were $46.1 billion, up 28.8% from $35.8 billion in the first quarter of 2019. North America accounted for about 61.1% of total net sales in the first quarter of 2020, or 70.7% of sales excluding Amazon Web Services.

International net sales totaling $19.1 billion, up 18% from $16.2 billion in the first quarter of 2019. International accounted for about 25.3% of total net sales in the fourth quarter, or 29.3% of sales excluding AWS.

Amazon Web Services revenue hit $10.2 billion during the quarter, up 32.8% from $7.7 billion a year earlier. AWS sales accounted for 13.5% of consolidated revenue in the first quarter of 2020.

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