Amazon.com Inc. announced its financial results for the first quarter ended March 31, 2018. Net sales for Q1 2018 were $51.0 billion, an increase of 42.8%, compared to $35.7 billion in Q1 2017. Net income in Q1 2018 was $1.6 billion, an increase of 125%, compared to $724 million to Q1 2017.
Company said that the increase in sales was primarily driven by remarkable acceleration in Amazon Web Services (AWS) growth and AWS now operates 54 Availability Zones within 18 geographic regions.
Amazon, in its second quarter 2018 guidance, expects the net sales to be between $51.0 billion to $54.0 billion or to grow between 34%-42% compared to Q2 2017.
