Amazon has released its earnings report for the first quarter of 2023. The company has turned its fortunes around, increasing revenue and posting a profit.<\/p>\n
These results were announced by company CEO Andy Jassy in an earnings call with investors earlier today. The results, which have so far exceeded expectations, were largely attributed to the e-tailer’s cost-cutting measures.<\/p>\n
Retail consumer giant Amazon generated<\/a> $3.2 billion in net income compared to its $3.8 billion loss in the first quarter of 2022. Given this, Amazon’s fully diluted share stands at $0.31 per share, compared to the $0.38 it had in the same period in 2022.<\/p>\n The e-tailer’s net sales increased 9% to $127.4 billion compared to $116.4 billion in the same period. Amazon’s North American sales volume surged 11% year-over-year to $76.9 billion, while its international sales only managed to post 1% to $29.6 billion.<\/p>\n $AMZN<\/a>'s earnings beat yesterday came with a warning for reduced spending.<\/p>\n CFRA Research's Arun Sundaram discusses investors' concerns around economic headwinds: pic.twitter.com\/h8NoESMf1e<\/a><\/p>\n — Yahoo Finance (@YahooFinance) April 28, 2023<\/a><\/p><\/blockquote>\n\n