Amazon sees net sales, income jump in 1st quarter

By Ovunc Kutlu

ISTANBUL (AA) - US-based global e-commerce giant Amazon saw its net sales and income jump in the first quarter of this year, according to its financial results statement released Thursday.

The company's net sales increased 9% to $127.4 billion in the January-March period compared to $116.4 billion in the same period of last year.

Amazon saw its net income coming in at $3.2 billion in the first three months of the year, recovering from a net loss of $3.8 billion in the first quarter of 2022.

CEO Andy Jassy said in the statement that the e-retailer's fulfillment network continues to improve with increasing speed despite "an uncertain economy.”

“While our AWS business navigates companies spending more cautiously in this macro environment, we continue to prioritize building long-term customer relationships both by helping customers save money and enabling them to more easily leverage technologies like Large Language Models and Generative AI with our uniquely cost-effective machine learning chips," he added.

Amazon on April 13 announced new tools for building with generative artificial intelligence (AI) on its cloud computing platform Amazon Web Services (AWS).

US-based tech majors such as Google and Microsoft have also been offering developers large language models.