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Amazon: Q1 Sales Up 34 Per Cent

Amazon has just announced its financial results for the first quarter ended March the 31st.

The online retailer's net sales have jumped 34 per cent to $13.2 billion (that figure was $9.7 billion in Q1 2011). Operating cash flow was up 1 per cent to $3.05 billion for the preceding year, compared to $3.03 billion for the 12 months running up to March 2011.

Operating income was $192 million, which was down from $322 million year-on-year. Amazon noted a slight unfavourable impact of exchange rates to the tune of $4 million.

Net income was down as much as sales were up, 35 per cent, decreasing to $130 million from $201 million in Q1 2011.

Amazon noted that the Kindle Fire remains the "number one bestselling, most gifted, and most wished for product across the millions of items available on since launch". However, the company declined to reveal any hard sales figures for the tablet device.

Jeff Bezos, founder and CEO, commented: "I'm excited to announce that we now have more than 130,000 new, in-copyright books that are exclusive to the Kindle Store - you won't find them anywhere else. They include many of our top bestsellers - in fact, 16 of our top 100 bestselling titles are exclusive to our store."

"Kindle is the bestselling e-reader in the world by far, and I assure you we'll keep working hard so that the Kindle Store remains yet another reason to buy a Kindle!"