Amazon Com Inc (AMZN) 10-Q Quarterly Report April 2023

•Net sales increased 9% to $127.4 billion in the first quarter, compared with $116.4 billion in first quarter 2022. Excluding the $2.4 billion unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 11% compared with first quarter 2022.

•North America segment sales increased 11% year-over-year to $76.9 billion.

•International segment sales increased 1% year-over-year to $29.1 billion, or increased 9% excluding changes in foreign exchange rates.

•AWS segment sales increased 16% year-over-year to $21.4 billion.

•Operating income increased to $4.8 billion in the first quarter, compared with $3.7 billion in first quarter 2022. First quarter 2023 operating income includes approximately $0.5 billion of charges related to estimated severance costs.

•North America segment operating income was $0.9 billion, compared with operating loss of $1.6 billion in first quarter 2022.

•International segment operating loss was $1.2 billion, compared with operating loss of $1.3 billion in first quarter 2022.

•AWS segment operating income was $5.1 billion, compared with operating income of $6.5 billion in first quarter 2022.

•Net income was $3.2 billion in the first quarter, or $0.31 per diluted share, compared with net loss of $3.8 billion, or $0.38 per diluted share, in first quarter 2022. All share and per share information for comparable prior year periods throughout this release have been retroactively adjusted to reflect the 20-for-1 stock split effected on May 27, 2022.

•First quarter 2023 net income includes a pre-tax valuation loss of $0.5 billion included in non-operating expense from the common stock investment in Rivian Automotive, Inc., compared to a pre-tax valuation loss of $7.6 billion from the investment in first quarter 2022.

•Operating cash flow increased 38% to $54.3 billion for the trailing twelve months, compared with $39.3 billion for the trailing twelve months ended March 31, 2022.

•Free cash flow improved to an outflow of $3.3 billion for the trailing twelve months, compared with an outflow of $18.6 billion for the trailing twelve months ended March 31, 2022.

•Free cash flow less principal repayments of finance leases and financing obligations improved to an outflow of $10.1 billion for the trailing twelve months, compared with an outflow of $29.3 billion for the trailing twelve months ended March 31, 2022.

•Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations improved to an outflow of $4.5 billion for the trailing twelve months, compared with an outflow of $22.3 billion for the trailing twelve months ended March 31, 2022.

The following information was filed by Amazon Com Inc (AMZN) on Thursday, April 27, 2023 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Amazon Com Inc's 10-Q Quarterly Report:

Other - Other Highlight
We had no borrowings outstanding under the two unsecured revolving credit facilities, $7.8 billion of borrowings outstanding under the commercial paper programs, $972 million of borrowings outstanding under our Credit Facility, and $8.0 billion of borrowings outstanding under the Term Loan as of March 31, 2023.

Financial - Expense Highlight
27 Table of Contents Fulfillment costs as a percentage of net sales may vary due to several factors, such as payment processing and related transaction costs, our level of productivity and accuracy, changes in volume, size, and weight of units received and fulfilled, the extent to which third-party sellers utilize Fulfillment by Amazon services, timing of fulfillment network and physical store expansion, the extent we utilize fulfillment services provided by third parties, mix of products and services sold, and our ability to affect customer service contacts per unit by implementing improvements in our operations and enhancements to our customer self-service features.
Financial - Expense Highlight
While costs associated with Amazon Prime membership benefits and other shipping offers are not included in sales and marketing expense, we view these offers as effective worldwide marketing tools, and intend to continue offering them indefinitely.
Financial - Expense Highlight
We expect our cost of shipping to continue to increase to the extent our customers accept and use our shipping offers at an increasing rate, we use more expensive shipping methods, including faster delivery, and we offer additional services.
Financial - Expense Highlight
In addition, economic conditions and actions by policymaking bodies are contributing to rising interest rates and significant capital market volatility, which, along with increases in our borrowing levels, could increase our future borrowing costs.
Revenue - Product
We seek to expand our...Read more
Financial - Expense
Collectively, these costs reflect the...Read more
Revenue - Geography
The North America operating income...Read more
Financial - Expense
U.S. tax rules provide for...Read more
Financial - Expense
Technology and Content Technology and...Read more
Revenue - Geography
Our results are inherently unpredictable...Read more
Revenue - Product
Increased unit sales were driven...Read more
Revenue - Product
Increased unit sales were driven...Read more
Financial - Expense
28 Table of Contents Other...Read more
Financial - Expense
General and Administrative The increase...Read more
Revenue - Product
Cash provided by (used in)...Read more
Revenue - Product
The sales growth primarily reflects...Read more
Other - Other
Cash capital expenditures were $13.7...Read more
Financial - Expense
26 Table of Contents Operating...Read more
Revenue - Geography
For a discussion of the...Read more
Revenue - Product
Additionally, sales by our sellers...Read more
Financial - Cash Flow
Developments in an audit, investigation,...Read more
Financial - Expense
Additionally, effective January 1, 2022,...Read more
Financial - Income
Our interest income corresponds with...Read more
Financial - Income
Included in other income (expense),...Read more
Financial - Expense
Infrastructure costs include servers, networking...Read more
Financial - Cash Flow
Our operating cash flows result...Read more
Other - Other
See Item 7 of Part...Read more
Revenue - Product
The sales growth primarily reflects...Read more
Financial - Expense
Shipping costs to receive products...Read more
Financial - Cash Flow
We provide multiple measures of...Read more
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Net sales information is as...Read more
Revenue - Geography
North America sales increased 11%...Read more
Revenue - Product
AWS sales increased 16% in...Read more
Revenue - Product
International sales increased 1% in...Read more
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In addition, rising fuel, utility,...Read more
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Our measures of free cash...Read more
Financial - Cash Flow
The increase in operating cash...Read more
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Interest Income and Expense Our...Read more
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The increase in technology and...Read more
Revenue - Product
Second Quarter 2023 Guidance Net...Read more
Financial - Cash Flow
The following is a reconciliation...Read more
Financial - Expense
We seek to mitigate costs...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Amazon Com Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: AMZN
CIK: 1018724
Form Type: 10-Q Quarterly Report
Accession Number: 0001018724-23-000008
Submitted to the SEC: Thu Apr 27 2023 6:24:51 PM EST
Accepted by the SEC: Fri Apr 28 2023
Period: Friday, March 31, 2023
Industry: Retail Catalog And Mail Order Houses