According to Amazon’s Q1 2017 earnings report on Thursday, they totally crushed expectations.
Amazon had reported that they had a net sales revenue of $35.7 billion, which is a 23 percent spike from Q1 2016’s revenue of $29.1 billion. This is above what analysts had expected, even just slightly. The surprise came in the form of earnings per share (EPS) of $1.46, which was above the analyst predicted $1.13. A year ago, Amazon’s EPS was $1.07
In Amazon’s earnings announcement, CEO Jeff Bezos specifically called out the success of his company’s recent investments in the Indian e-commerce market:
“Our India team is moving fast and delivering for customers and sellers. The team has increased Prime selection by 75% since launching the program nine months ago, increased fulfillment capacity for sellers by 26% already this year, announced 18 Indian Original TV series, and just last week introduced a Fire TV Stick optimized for Indian customers with integrated voice search in English and Hindi,” said Jeff Bezos, Amazon founder and CEO. “We’re grateful that customers are responding — Amazon.in is the most visited and the fastest growing marketplace in India. It’s still Day 1 for e-commerce in India, and I assure you that we’ll keep investing in technology and infrastructure while working hard to invent on behalf of our customers and small and medium businesses in India.”
Amazon’s stock, which closed Thursday at $918 per share, was trading up an additional 3 to 4 percent after hours and hovering around $950 per share.