Amazon has just announced their Q1 2012 Earnings, and they’re better than expected. The company pulled in $13.2 billion in revenue, a 34% increase over the same quarter last year. Net income dropped 35% to $130 million, compared to $201 million in Q1 2011. That $130 million amounts to about $0.28 profit per diluted share, which beats Wall Street estimates of just $0.07 per share on $12.9 billion in revenue.
The North American market alone was responsible for $7.43 billion of that $13.2 billion revenue, which represents a 36% increase over Q1 2011.
Though Amazon chose not to release specific Kindle sales numbers, they did state that the Kindle Fire remained their flagship device – the best selling, most gifted, and most wished for product on the site. Despite the lack of hard sales figures, Amazon remains excited about and committed to the Kindle. Jeff Bezos stated, “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!”
Amazon’s Q2 forecast looks equally promising: the company is predicting net sales of between $11.9 billion and $13.3 billion, which would equate to growth of between 20% and 34% over Q2 2011.