Amazon posts $3.6B profit in Q1, slowest growth since 2015

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For the first quarter of 2019, Amazon’s net income increased to $3.6 billion compared to $1.6 billion in the first quarter of 2018.

While Amazon’s financials grew year over year, the company experienced its slowest growth quarter since 2015, according to CNBC.

Amazon’s net sales spiked 17 percent to $59.7 billion in the first quarter. This compares to the 46 percent growth that happened in the first quarter in 2018 when sales hit $51 billion. Amazon’s operating income increased to $3.6 billion in the first quarter compared to $1.6 billion in 2018.

The company’s cloud service maintained solid growth, with sales surging 41 percent year over year. However, in 2018 Amazon’s cloud services saw a 49 percent growth rate, CNBC reports.

For the second quarter, Amazon expects net sales to be between $59.5 billion and $63.5 billion, growing 13 percent to 20 percent.

To access the complete financial report, click here.

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