Amazon.com Announces First Quarter Results

SEATTLE — (BUSINESS WIRE) — April 29, 2021 — Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its first quarter ended March 31, 2021.

  • Operating cash flow increased 69% to $67.2 billion for the trailing twelve months, compared with $39.7 billion for the trailing twelve months ended March 31, 2020.
  • Free cash flow increased to $26.4 billion for the trailing twelve months, compared with $24.3 billion for the trailing twelve months ended March 31, 2020.
  • Free cash flow less principal repayments of finance leases and financing obligations increased to $14.9 billion for the trailing twelve months, compared with $14.3 billion for the trailing twelve months ended March 31, 2020.
  • Free cash flow less equipment finance leases and principal repayments of all other finance leases and financing obligations increased to $16.8 billion for the trailing twelve months, compared with $11.7 billion for the trailing twelve months ended March 31, 2020.
  • Common shares outstanding plus shares underlying stock-based awards totaled 519 million on March 31, 2021, compared with 513 million one year ago.
  • Net sales increased 44% to $108.5 billion in the first quarter, compared with $75.5 billion in first quarter 2020. Excluding the $2.1 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 41% compared with first quarter 2020.
  • Operating income increased to $8.9 billion in the first quarter, compared with operating income of $4.0 billion in first quarter 2020.
  • Net income increased to $8.1 billion in the first quarter, or $15.79 per diluted share, compared with net income of $2.5 billion, or $5.01 per diluted share, in first quarter 2020.

“Two of our kids are now 10 and 15 years old—and after years of being nurtured, they’re growing up fast and coming into their own,” said Jeff Bezos, Amazon founder and CEO. “As Prime Video turns 10, over 175 million Prime members have streamed shows and movies in the past year, and streaming hours are up more than 70% year over year. Amazon Studios received a record 12 Academy Award nominations and two wins. Upcoming originals include Tom Clancy’s Without Remorse, The Tomorrow War, The Underground Railroad, and much more. In just 15 years, AWS has become a $54 billion annual sales run rate business competing against the world’s largest technology companies, and its growth is accelerating—up 32% year over year. Companies from Airbnb to McDonald’s to Volkswagen come to AWS because we offer what is by far the broadest set of tools and services available, and we continue to invent relentlessly on their behalf. We love Prime Video and AWS, and we’re proud to have them in the family.”

Highlights

Our Vision to be Earth’s Best Employer and Earth’s Safest Place to Work

  • Amazon ranked #1 in the U.S. on LinkedIn’s 2021 Top Companies, an annual list identifying the most sought-after places to work based on their ability to attract and retain the best talent, including promotions, opportunities for employees to learn new skills, hiring people from all backgrounds and levels of education, and gender diversity. In addition, Amazon ranked #2 on the Fortune World’s Most Admired Companies list and #3 on Boston Consulting Group’s Most Innovative Companies list.
  • In partnership with government and public health officials across the globe, Amazon is rapidly expanding on-site COVID-19 vaccination programs for its front-line employees and contractors. In addition to offering COVID-19 testing on-site, Amazon has hosted vaccination events at fulfillment centers, sort centers, delivery stations, and AWS data centers in 29 states, reaching more than 300,000 front-line employees and contractors. In some locations, Amazon opened the vaccination program to employee household members. Given the vaccination program’s progress in the U.S., it will soon expand to front-line employees in other countries.
  • Amazon is committed to leading the way for workplaces around the world to proactively manage—and prevent—work-related musculoskeletal disorders (MSDs) by drawing on expertise in innovation and technology, and collaborating with proven thought leaders and scientists. MSDs are common in the type of work done in warehouse operations and are more likely to occur during an employee’s first six months. Amazon’s increased attention to early MSD prevention is already achieving results. From 2019 to 2020, overall MSDs decreased by 32% and MSDs resulting in time away from work decreased by more than half.
  • Amazon is expanding its workplace health and safety program WorkingWell with the aim of cutting recordable incident rates by 50% by 2025. WorkingWell is currently available to 859,000 employees at 350 sites across North America and Europe. Through the program, small groups of employees are coached on body mechanics, proactive wellness, and safety. In addition to reducing workplace injuries, these concepts have a positive impact on regular day-to-day activities and have contributed to reducing MSD recordable incident rates.
  • Since 2020, in partnership with Crossover Health, Amazon opened 17 neighborhood health centers for employees and their families in the areas around Dallas–Fort Worth, Texas; Detroit, Michigan; Louisville, Kentucky; Phoenix, Arizona; and San Bernardino, California. Centers are located next to where employees live and work to provide affordable, convenient, and high quality health care, and patients report a 90% satisfaction score. Amazon is evaluating expansion of the program so that even more employees can access quality care whenever, and wherever, they need it.
  • Amazon is fitting delivery vehicles with camera safety technology and artificial intelligence to capture real-time data (such as following safe distance and road conditions) to identify at-risk driving events. These technologies are used to help keep drivers and the communities where Amazon delivers safe. When this technology was piloted in 2020 on over two million miles of delivery routes, crashes decreased 48%, stop sign violations decreased 20%, driving without a seatbelt decreased 60%, and distracted driving decreased 45%.
  • Amazon shared comprehensive companywide goals related to diversity, equity, and inclusion efforts for 2021. Goals include increasing representation of women in tech and science roles, doubling the number of Black directors and VPs for the second year in a row, and having 100% of Amazon employees take inclusion training. In addition, to evaluate progress over time, Amazon increased the amount and specificity of the data shared publicly about its employees. The expanded dataset includes representation by job type, such as front-line associates and corporate employees, and expands historical data to the past three years.
  • Amazon pulled forward its annual fall pay review for its U.S. Customer Fulfillment, Delivery, Package Sortation, and Specialty Fulfillment teams, and will be rolling out increases from mid-May through early June. More than 500,000 people will see an increase between at least 50 cents and $3 an hour, which is an investment of over $1 billion in incremental pay for these employees.
  • In India, Amazon announced it has added nearly 300,000 new direct and indirect jobs since its last announcement in January 2020, putting the company on track to meet its pledge to create an additional one million new jobs in India by 2025.

Supporting Communities

  • Amazon donated and delivered relief and emergency aid supplies—including over one million bottles of water and thousands of items such as flashlights, tents, and search and rescue equipment—to communities impacted by the winter storm crisis in Texas and Mississippi in February and severe storms in Tennessee and Alabama in March.
  • Amazon Future Engineer, the company’s computer science education program for students from underserved communities, launched in France and Canada. With this expansion, the program now reaches over one million students globally each year. Amazon Future Engineer also donated $15 million to Code.org to develop a new equity-minded Advanced Placement computer science curriculum, which aims to increase access, participation, and long-term success for high school students from communities underrepresented in tech.
  • Amazon announced a year-long partnership with The King Memorial Foundation, the organization responsible for building and maintaining the Martin Luther King, Jr. Memorial in Washington, D.C. Over the next year, AWS will support the Memorial Foundation’s Social Justice Fellows Program, which aims to help program participants develop their professional skills by providing them with mentorship opportunities with Amazon employees, as well as free cloud and STEM training and certification. For the partnership kick-off, Amazon joined the Foundation in a Day of Service project, delivering essential, personal care items to shelters in seven D.C. wards.
  • Since January, Amazon has opened its Seattle campus to Virginia Mason Franciscan Health for public COVID-19 vaccinations. As of April 15, nearly 50,000 immunizations have been administered to the public through weekend pop-up clinics staffed by Amazon and community volunteers. Amazon is also providing volunteers and technology to support the Washington State vaccine call center. Since the initiative launched in late March, the system has processed over 100,000 calls and has eliminated wait times.
  • Amazon continued its efforts to support children in need across Europe during the COVID-19 pandemic. In the UK, Amazon donated 10,000 Fire tablets to schools lacking technology and delivered more than four million breakfasts to children in need through charity partner Magic Breakfast. In Italy and Spain, Amazon donated millions of euros to over 35,000 schools through a program that allows customers to choose the schools to which Amazon will donate.
  • Since 2019, Amazon has worked with the U.S. Department of Agriculture and state agencies to ensure customers in nearly all 50 states can shop for groceries on Amazon using Supplemental Nutrition Assistance Program (SNAP) benefits. Amazon remains committed to increasing food access in the U.S.—especially in healthy food priority areas—and is helping raise awareness among residents about the convenient, safe, and affordably priced grocery delivery options Amazon offers their communities. As part of its ongoing work to increase food access, Amazon is establishing partnerships with local anti-hunger organizations to assist communities in need.
  • Amazon added new Alexa features to help provide localized answers to questions on COVID-19 testing and vaccine eligibility, including the ability for customers to find and call nearby vaccine locations for booking appointments.
  • Ring announced a new community program with Kids Off the Block, a Chicago-based nonprofit focused on providing local at-risk youth a care center for personal growth and empowerment. Ring also donated 1,000 Ring Video Doorbells and Ring subscriptions to support families and individuals in Chicago neighborhoods.
  • Amazon introduced the Alexa Hörfilm skill in Germany, providing blind and visually-impaired customers with access to more than 3,500 TV series and movies with audio description. The skill was developed and built together with DBSV, the German association of blind or visually-impaired persons, and participating TV stations ARD, ZDF, and ARTE.

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