Amazon has reported a net loss of $57 million in the first quarter, quite the drop from the net income of $108 million reported in Q1 2014.
Announcing its financial results for the first quarter ending March 31, 2015, it was revealed Amazon Web Services (AWS) had seen a loss despite a 47 per cent increase in operating cash flow to $7.84 billion for the trailing twelve months. The company also reported $3.16 billion in free cash flow, a $1.67 billion climb from the result registered in Q1 2014.
“Amazon Web Services is a $5 billion business and still growing fast — in fact it’s accelerating,” Jeff Bezos, founder and CEO of Amazon.com, said as part of the announcement.
“Born a decade ago, AWS is a good example of how we approach ideas and risk-taking at Amazon. We strive to focus relentlessly on the customer, innovate rapidly, and drive operational excellence. We manage by two seemingly contradictory traits: impatience to deliver faster and a willingness to think long term. We are so grateful to our AWS customers and remain dedicated to inventing on their behalf.”
Mr Bezo’s words of assurance lines up with investor activity, with Amazon’s stock climbing around 25 per cent since 2015 began. The company’s shares pushed up around 4.8 per cent today, despite the company’s announcement.
