Amazon posts Q1 earnings, announces plans for free Prime 1-day shipping
On April 25, 2019 Amazon announced its Q1 financial results with net sales amounting to nearly $60 billion and a cash flow increase of 89 percent amounting to $34.4 billion. The company’s net income increased to $3.6 billion in the first quarter, or $7.09 per diluted share, compared with net income of $1.6 billion, or $3.27 per diluted share, in first quarter 2018.
In addition to positive growth, Amazon announced that it would accelerate its 2-day Prime delivery service giving Prime customers 1-day free shipping on eligible items and has set aside $800 million toward it. “This is all about the core free 2-day offer morphing into a free 1-day offer. It’s a significant step, and it will take us time to achieve,” Amazon CFO Brian Olsavsky said.