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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Amazon.com Inc | NASDAQ:AMZN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
6.45 | 3.71% | 180.12 | 180.09 | 180.12 | 180.82 | 176.13 | 177.85 | 43,919,843 | 00:59:46 |
Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2016.
Operating cash flow increased 42% to $12.7 billion for the trailing twelve months, compared with $9.0 billion for the trailing twelve months ended June 30, 2015. Free cash flow increased to $7.3 billion for the trailing twelve months, compared with $4.4 billion for the trailing twelve months ended June 30, 2015. Free cash flow less lease principal repayments increased to $3.9 billion for the trailing twelve months, compared with $2.4 billion for the trailing twelve months ended June 30, 2015. Free cash flow less finance lease principal repayments and assets acquired under capital leases increased to $2.5 billion for the trailing twelve months, compared with an outflow of $492 million for the trailing twelve months ended June 30, 2015.
Common shares outstanding plus shares underlying stock-based awards totaled 495 million on June 30, 2016, compared with 488 million one year ago.
Net sales increased 31% to $30.4 billion in the second quarter, compared with $23.2 billion in second quarter 2015. The favorable impact from year-over-year changes in foreign exchange rates throughout the quarter on net sales was $166 million.
Operating income was $1.3 billion in the second quarter, compared with $464 million in second quarter 2015.
Net income was $857 million in the second quarter, or $1.78 per diluted share, compared with $92 million, or $0.19 per diluted share, in second quarter 2015.
“It’s been a busy few months for Amazon around the world, and particularly in India — where we launched a new AWS Region, introduced Prime with unlimited free shipping, and announced that Prime Video is coming soon, offering Prime members in India exclusive access to Amazon Original Series and Movies — including original content featuring top Indian creators and talent,” said Jeff Bezos, founder and CEO of Amazon.com. “The team in India is inventing at a torrid pace, and we’re very grateful to our Indian customers for their welcoming response.”
Highlights
Financial Guidance
The following forward-looking statements reflect Amazon.com’s expectations as of July 28, 2016, and are subject to substantial uncertainty. Our results are inherently unpredictable and may be materially affected by many factors, such as fluctuations in foreign exchange rates, changes in global economic conditions and customer spending, world events, the rate of growth of the Internet, online commerce, and cloud services, and the various factors detailed below.
Third Quarter 2016 Guidance
A conference call will be webcast live today at 2:30 p.m. PT/5:30 p.m. ET, and will be available for at least three months at www.amazon.com/ir. This call will contain forward-looking statements and other material information regarding the Company’s financial and operating results.
These forward-looking statements are inherently difficult to predict. Actual results could differ materially for a variety of reasons, including, in addition to the factors discussed above, the amount that Amazon.com invests in new business opportunities and the timing of those investments, the mix of products and services sold to customers, the mix of net sales derived from products as compared with services, the extent to which we owe income taxes, competition, management of growth, potential fluctuations in operating results, international growth and expansion, the outcomes of legal proceedings and claims, fulfillment, sortation, delivery, and data center optimization, risks of inventory management, seasonality, the degree to which the Company enters into, maintains, and develops commercial agreements, acquisitions and strategic transactions, payments risks, and risks of fulfillment throughput and productivity. Other risks and uncertainties include, among others, risks related to new products, services, and technologies, system interruptions, government regulation and taxation, and fraud. In addition, the current global economic climate amplifies many of these risks. More information about factors that potentially could affect Amazon.com’s financial results is included in Amazon.com’s filings with the Securities and Exchange Commission (“SEC”), including its most recent Annual Report on Form 10-K and subsequent filings.
Our investor relations website is www.amazon.com/ir and we encourage investors to use it as a way of easily finding information about us. We promptly make available on this website, free of charge, the reports that we file or furnish with the SEC, corporate governance information (including our Code of Business Conduct and Ethics), and select press releases and social media postings, which may contain material information about us, and you may subscribe to be notified of new information posted to this site.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon. For more information, visit www.amazon.com/about.
AMAZON.COM, INC. Consolidated Statements of Cash Flows (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, Twelve Months Ended June 30, 2016 2015 2016 2015 2016 2015 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD $ 12,470 $ 10,237 $ 15,890 $ 14,557 $ 10,269 $ 5,057 OPERATING ACTIVITIES: Net income (loss) 857 92 1,370 35 1,931 (188 ) Adjustments to reconcile net income (loss) to net cash from operating activities: Depreciation of property and equipment, including internal-use software and website development, and other amortization, including capitalized content costs 1,909 1,504 3,736 2,930 7,087 5,557 Stock-based compensation 768 563 1,312 969 2,461 1,755 Other operating expense (income), net 53 42 97 87 166 153 Losses (gains) on sales of marketable securities, net 1 1 3 2 6 (1 ) Other expense (income), net 31 18 (21 ) 109 115 229 Deferred income taxes 106 (43 ) 117 (45 ) 243 (130 ) Excess tax benefits from stock-based compensation (113 ) (95 ) (320 ) (117 ) (323 ) (1 ) Changes in operating assets and liabilities: Inventories (57 ) (27 ) 712 693 (2,167 ) (1,291 ) Accounts receivable, net and other (1,184 ) (430 ) (772 ) 11 (2,538 ) (1,456 ) Accounts payable 977 373 (4,793 ) (3,876 ) 3,377 2,901 Accrued expenses and other (15 ) (129 ) (972 ) (1,068 ) 1,007 387 Additions to unearned revenue 2,340 1,397 5,154 3,200 9,355 5,647 Amortization of previously unearned revenue (2,208 ) (1,269 ) (4,318 ) (2,432 ) (7,994 ) (4,582 ) Net cash provided by (used in) operating activities 3,465 1,997 1,305 498 12,726 8,980 INVESTING ACTIVITIES: Purchases of property and equipment, including internal-use software and website development, net (1,711 ) (1,213 ) (2,890 ) (2,084 ) (5,395 ) (4,607 ) Acquisitions, net of cash acquired, and other (14 ) (8 ) (30 ) (374 ) (452 ) (1,287 ) Sales and maturities of marketable securities 931 470 2,069 845 4,249 2,639 Purchases of marketable securities (1,645 ) (625 ) (2,281 ) (1,610 ) (4,762 ) (3,379 ) Net cash provided by (used in) investing activities (2,439 ) (1,376 ) (3,132 ) (3,223 ) (6,360 ) (6,634 ) FINANCING ACTIVITIES: Excess tax benefits from stock-based compensation 113 95 320 117 323 1 Proceeds from long-term debt and other 66 44 75 226 202 6,236 Repayments of long-term debt and other (70 ) (215 ) (245 ) (531 ) (1,366 ) (797 ) Principal repayments of capital lease obligations (1,116 ) (580 ) (1,917 ) (1,082 ) (3,298 ) (1,832 ) Principal repayments of finance lease obligations (32 ) (35 ) (61 ) (74 ) (108 ) (155 ) Net cash provided by (used in) financing activities (1,039 ) (691 ) (1,828 ) (1,344 ) (4,247 ) 3,453 Foreign currency effect on cash and cash equivalents 64 102 286 (219 ) 133 (587 ) Net increase (decrease) in cash and cash equivalents 51 32 (3,369 ) (4,288 ) 2,252 5,212 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 12,521 $ 10,269 $ 12,521 $ 10,269 $ 12,521 $ 10,269 SUPPLEMENTAL CASH FLOW INFORMATION: Cash paid for interest on long-term debt $ 143 $ 152 $ 145 $ 169 $ 301 $ 212 Cash paid for interest on capital and finance lease obligations 48 35 95 67 180 119 Cash paid for income taxes (net of refunds) 88 65 226 119 380 188 Property and equipment acquired under capital leases 1,422 1,384 2,297 2,338 4,676 4,710 Property and equipment acquired under build-to-suit leases 231 153 582 256 870 813 AMAZON.COM, INC. Consolidated Statements of Operations (in millions, except per share data) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net product sales $ 21,116 $ 17,104 $ 41,697 $ 34,187 Net service sales 9,288 6,081 17,835 11,714 Total net sales 30,404 23,185 59,532 45,901 Operating expenses: Cost of sales 19,180 15,160 38,047 30,555 Fulfillment 3,878 2,876 7,565 5,634 Marketing 1,546 1,150 2,982 2,233 Technology and content 3,880 3,020 7,405 5,774 General and administrative 580 467 1,077 894 Other operating expense (income), net 55 48 100 92 Total operating expenses 29,119 22,721 57,176 45,182 Operating income 1,285 464 2,356 719 Interest income 24 12 45 23 Interest expense (116 ) (114 ) (233 ) (228 ) Other income (expense), net (14 ) — 66 (131 ) Total non-operating income (expense) (106 ) (102 ) (122 ) (336 ) Income before income taxes 1,179 362 2,234 383 Provision for income taxes (307 ) (266 ) (782 ) (337 ) Equity-method investment activity, net of tax (15 ) (4 ) (82 ) (11 ) Net income $ 857 $ 92 $ 1,370 $ 35 Basic earnings per share $ 1.81 $ 0.20 $ 2.90 $ 0.07 Diluted earnings per share $ 1.78 $ 0.19 $ 2.84 $ 0.07 Weighted-average shares used in computation of earnings per share: Basic 473 467 472 466 Diluted 483 476 482 475 AMAZON.COM, INC. Consolidated Statements of Comprehensive Income (Loss) (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net income $ 857 $ 92 $ 1,370 $ 35 Other comprehensive income (loss): Foreign currency translation adjustments, net of tax of $36, $1, $13, and $0 11 128 113 (114 ) Net change in unrealized gains (losses) on available-for-sale securities: Unrealized gains (losses), net of tax of $(17), $(8), $(17), and $(8) 31 6 37 7 Reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $0, $0, $(1), and $(1) 1 1 2 1 Net unrealized gains (losses) on available-for-sale securities 32 7 39 8 Total other comprehensive income (loss) 43 135 152 (106 ) Comprehensive income (loss) $ 900 $ 227 $ 1,522 $ (71 ) AMAZON.COM, INC. Segment Information (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 North America Net sales $ 17,674 $ 13,796 $ 34,670 $ 27,202 Operating expenses 16,517 13,093 32,590 25,982 Operating income before stock-based compensation and other 1,157 703 2,080 1,220 Stock-based compensation and other 455 355 790 617 Operating income $ 702 $ 348 $ 1,290 $ 603 International Net sales $ 9,844 $ 7,565 $ 19,410 $ 15,310 Operating expenses 9,756 7,584 19,301 15,405 Operating income (loss) before stock-based compensation and other 88 (19 ) 109 (95 ) Stock-based compensation and other 223 170 364 288 Operating income (loss) $ (135 ) $ (189 ) $ (255 ) $ (383 ) AWS Net sales $ 2,886 $ 1,824 $ 5,452 $ 3,389 Operating expenses 2,023 1,433 3,873 2,734 Operating income before stock-based compensation and other 863 391 1,579 655 Stock-based compensation and other 145 86 258 156 Operating income $ 718 $ 305 $ 1,321 $ 499 Consolidated Net sales $ 30,404 $ 23,185 $ 59,532 $ 45,901 Operating expenses 28,296 22,110 55,764 44,121 Operating income before stock-based compensation and other 2,108 1,075 3,768 1,780 Stock-based compensation and other 823 611 1,412 1,061 Operating income 1,285 464 2,356 719 Total non-operating income (expense) (106 ) (102 ) (122 ) (336 ) Provision for income taxes (307 ) (266 ) (782 ) (337 ) Equity-method investment activity, net of tax (15 ) (4 ) (82 ) (11 ) Net income $ 857 $ 92 $ 1,370 $ 35 Segment Highlights: Y/Y net sales growth: North America 28 % 26 % 27 % 25 % International 30 3 27 1 AWS 58 81 61 65 Consolidated 31 20 30 17 Net sales mix: North America 58 % 59 % 58 % 59 % International 32 33 33 33 AWS 10 8 9 8 Consolidated 100 % 100 % 100 % 100 % AMAZON.COM, INC. Supplemental Net Sales Information (in millions) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Net Sales: North America Media $ 2,928 $ 2,620 $ 6,136 $ 5,589 Electronics and other general merchandise 14,459 10,987 27,970 21,237 Other (1) 287 189 564 376 Total North America $ 17,674 $ 13,796 $ 34,670 $ 27,202 International Media $ 2,283 $ 2,094 $ 4,763 $ 4,413 Electronics and other general merchandise 7,504 5,425 14,537 10,804 Other (1) 57 46 110 93 Total International $ 9,844 $ 7,565 $ 19,410 $ 15,310 Year-over-year Percentage Growth: North America Media 12 % 6 % 10 % 6 % Electronics and other general merchandise 32 31 32 31 Other 52 16 50 19 Total North America 28 26 27 25 International Media 9 % (12 )% 8 % (12 )% Electronics and other general merchandise 38 10 35 7 Other 25 (7 ) 18 (10 ) Total International 30 3 27 1 Year-over-year Percentage Growth, excluding the effect of foreign exchange rates: North America Media 12 % 7 % 10 % 6 % Electronics and other general merchandise 32 32 32 31 Other 52 16 50 19 Total North America 28 26 28 25 International Media 7 % 3 % 8 % 2 % Electronics and other general merchandise 36 31 35 26 Other 25 8 20 5 Total International 28 22 27 18 ______________________________ (1) Includes sales from non-retail activities, such as certain advertising services and our co-branded credit card agreements. AMAZON.COM, INC. Consolidated Balance Sheets (in millions, except per share data) June 30, 2016 December 31, 2015 (unaudited)ASSETS
Current assets: Cash and cash equivalents $ 12,521 $ 15,890 Marketable securities 4,019 3,918 Inventories 9,588 10,243 Accounts receivable, net and other 6,092 5,654 Total current assets 32,220 35,705 Property and equipment, net 25,190 21,838 Goodwill 3,774 3,759 Other assets 3,892 3,445 Total assets $ 65,076 $ 64,747LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities: Accounts payable $ 16,123 $ 20,397 Accrued expenses and other 9,613 10,372 Unearned revenue 3,851 3,118 Total current liabilities 29,587 33,887 Long-term debt 8,212 8,227 Other long-term liabilities 10,739 9,249 Commitments and contingencies Stockholders’ equity: Preferred stock, $0.01 par value: Authorized shares — 500 Issued and outstanding shares — none — — Common stock, $0.01 par value: Authorized shares — 5,000 Issued shares — 497 and 494 Outstanding shares — 474 and 471 5 5 Treasury stock, at cost (1,837 ) (1,837 ) Additional paid-in capital 15,026 13,394 Accumulated other comprehensive loss (571 ) (723 ) Retained earnings 3,915 2,545 Total stockholders’ equity 16,538 13,384 Total liabilities and stockholders’ equity $ 65,076 $ 64,747 AMAZON.COM, INC. Supplemental Financial Information and Business Metrics (in millions, except per share data) (unaudited) Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016Y/Y %Change
Cash Flows and SharesOperating cash flow — trailing twelve months (TTM)
$ 7,845 $ 8,980 $ 9,823 $ 11,920 $ 11,258 $ 12,726 42 %Operating cash flow — TTM Y/Y growth
47 % 69 % 72 % 74 % 44 % 42 % N/APurchases of property and equipment, including internal-use software and website development, net — TTM
$ 4,684 $ 4,607 $ 4,424 $ 4,589 $ 4,897 $ 5,395 17 %Principal repayments of capital lease obligations — TTM
$ 1,537 $ 1,832 $ 2,144 $ 2,462 $ 2,761 $ 3,298 80 %Principal repayments of finance lease obligations — TTM
$ 132 $ 155 $ 163 $ 121 $ 111 $ 108(31
)%
Property and equipment acquired under capital leases — TTM
$ 4,246 $ 4,710 $ 4,599 $ 4,717 $ 4,638 $ 4,676 (1)%
Free cash flow — TTM (1)
$ 3,161 $ 4,373 $ 5,399 $ 7,331 $ 6,361 $ 7,331 68 %Free cash flow less lease principal repayments — TTM (2)
$ 1,492 $ 2,386 $ 3,092 $ 4,748 $ 3,489 $ 3,925 65 %Free cash flow less finance lease principal repayments and assets acquired under capital leases — TTM (3)
$ (1,217 ) $ (492 ) $ 637 $ 2,493 $ 1,612 $ 2,547 N/A Invested capital (4) $ 24,040 $ 26,478 $ 28,860 $ 31,393 $ 32,824 $ 34,695 31 % Common shares and stock-based awards outstanding 483 488 489 490 490 495 1 % Common shares outstanding 466 468 469 471 472 474 1 % Stock-based awards outstanding 17 20 20 19 18 21 2 %Stock-based awards outstanding — % of common shares outstanding
3.8 % 4.4 % 4.3 % 4.1 % 3.9 % 4.4 % N/A Results of Operations Worldwide (WW) net sales $ 22,717 $ 23,185 $ 25,358 $ 35,747 $ 29,128 $ 30,404 31 %WW net sales — Y/Y growth, excluding F/X
22 % 27 % 30 % 26 % 29 % 30 % N/AWW net sales — TTM
$ 91,963 $ 95,808 $ 100,588 $ 107,006 $ 113,418 $ 120,637 26 %WW net sales — TTM Y/Y growth, excluding F/X
20 % 22 % 24 % 26 % 28 % 29 % N/A Operating income $ 255 $ 464 $ 406 $ 1,108 $ 1,071 $ 1,285 177 %Operating income — Y/Y growth, excluding F/X
90 % N/A N/A 84 % 300 % 168 % N/AOperating margin — % of WW net sales
1.1 % 2.0 % 1.6 % 3.1 % 3.7 % 4.2 % N/AOperating income — TTM
$ 287 $ 765 $ 1,715 $ 2,233 $ 3,049 $ 3,871 406 %Operating income — TTM Y/Y growth (decline), excluding F/X
(56 )% 35 % N/A N/A 933 % 388 % N/AOperating margin — TTM % of WW net sales
0.3 % 0.8 % 1.7 % 2.1 % 2.7 % 3.2 % N/A Net income (loss) $ (57 ) $ 92 $ 79 $ 482 $ 513 $ 857 836 % Net income (loss) per diluted share $ (0.12 ) $ 0.19 $ 0.17 $ 1.00 $ 1.07 $ 1.78 822 %Net income (loss) — TTM
$ (405 ) $ (188 ) $ 328 $ 596 $ 1,166 $ 1,931 N/ANet income (loss) per diluted share — TTM
$ (0.88 ) $ (0.41 ) $ 0.69 $ 1.25 $ 2.43 $ 4.02 N/A______________________________
(1) Free cash flow is cash flow from operations reduced by “Purchases of property and equipment, including internal-use software and website development, net,” which is included in cash flow from investing activities. (2) Free cash flow less lease principal repayments is free cash flow reduced by “Principal repayments of capital lease obligations,” and “Principal repayments of finance lease obligations,” which are included in cash flow from financing activities. (3) Free cash flow less finance lease principal repayments and assets acquired under capital leases is free cash flow reduced by “Principal repayments of finance lease obligations,” which are included in cash flow from financing activities, and property and equipment acquired under capital leases. In this measure, property and equipment acquired under capital leases is reflected as if these assets had been purchased with cash, which is not the case as these assets have been leased. (4) Average Total Assets minus Current Liabilities (excluding current portion of Long-Term Debt and current portion of capital lease obligations and finance lease obligations) over five quarter ends. AMAZON.COM, INC. Supplemental Financial Information and Business Metrics (in millions) (unaudited) Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Y/Y %Change Segments North America Segment: Net sales $ 13,406 $ 13,796 $ 15,006 $ 21,501 $ 16,996 $ 17,674 28 %Net sales — Y/Y growth, excluding F/X
24 % 26 % 29 % 24 % 27 % 28 % N/ANet sales — TTM
$ 53,432 $ 56,233 $ 59,540 $ 63,708 $ 67,299 $ 71,176 27 % Operating income before stock-based compensation and other:Operating income
$ 517 $ 703 $ 528 $ 1,003 $ 924 $ 1,157 65 %Operating income — Y/Y growth, excluding F/X
77 % 111 % N/A 36 % 78 % 64 % N/AOperating margin — % of North America net sales
3.9 % 5.1 % 3.5 % 4.7 % 5.4 % 6.6 % N/AOperating income — TTM
$ 1,520 $ 1,893 $ 2,480 $ 2,751 $ 3,157 $ 3,611 91 %Operating margin — TTM % of North America net sales
2.8 % 3.4 % 4.2 % 4.3 % 4.7 % 5.1 % N/A Operating income: Operating income $ 254 $ 348 $ 186 $ 636 $ 588 $ 702 102 %Operating income — Y/Y growth, excluding F/X
129 % 100 % N/AOperating margin — % of North America net sales
1.9 % 2.5 % 1.2 % 3.0 % 3.5 % 4.0 % N/AOperating income — TTM
$ 1,425 $ 1,759 $ 2,113 170 %Operating margin — TTM % of North America net sales
2.2 % 2.6 % 3.0 % N/A International Segment: Net sales $ 7,745 $ 7,565 $ 8,267 $ 11,841 $ 9,566 $ 9,844 30 %Net sales — Y/Y growth, excluding F/X
14 % 22 % 24 % 22 % 26 % 28 % N/ANet sales — TTM
$ 33,371 $ 33,598 $ 34,154 $ 35,418 $ 37,239 $ 39,518 18 % Operating income (loss) before stock-based compensation and other:Operating income (loss) $ (76 ) $ (19 ) $ (56 ) $ 60 $ 20 $ 88 N/A
Operating income/loss — Y/Y growth (decline), excluding F/X
N/A N/A N/A 65 % N/A N/A N/AOperating margin — % of International net sales
(1.0
)%
(0.2 )% (0.7 )% 0.5 % 0.2 % 0.9 % N/AOperating income (loss) — TTM
$ (188 ) $ (205 ) $ (86 ) $ (91 ) $ 6 $ 113 N/AOperating margin — TTM % of International net sales
(0.6 )% (0.6 )% (0.3 )% (0.3 )% — % 0.3 % N/A Operating income (loss): Operating income (loss) $ (194 ) $ (189 ) $ (208 ) $ (108 ) $ (121 ) $ (135 ) (29 )%Operating income/loss — Y/Y growth (decline), excluding F/X
(27 )% (8 )% N/AOperating margin — % of International net sales
(2.5 )% (2.5 )% (2.5 )% (0.9 )% (1.3 )% (1.4 )% N/AOperating income (loss) — TTM
$ (699 ) $ (626 ) $ (571 ) N/AOperating margin — TTM % of International net sales
(2.0 )% (1.7 )% (1.4 )% N/A AMAZON.COM, INC. Supplemental Financial Information and Business Metrics (in millions) (unaudited) Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Y/Y %Change Segments (continued) AWS Segment: Net sales $ 1,566 $ 1,824 $ 2,085 $ 2,405 $ 2,566 $ 2,886 58 %Net sales — Y/Y growth, excluding F/X
49 % 81 % 78 % 69 % 64 % 58 % N/ANet sales — TTM
$ 5,160 $ 5,977 $ 6,894 $ 7,880 $ 8,880 $ 9,943 66 % Operating income before stock-based compensation and other: Operating income $ 265 $ 391 $ 521 $ 687 $ 716 $ 863 121 %Operating income — Y/Y growth (decline), excluding F/X
(13 )% 314 % 353 % 161 % 161 % 121 % N/AOperating margin — % of AWS net sales
16.9 % 21.4 % 25.0 % 28.5 % 27.9 % 29.9 % N/AOperating income — TTM
$ 680 $ 993 $ 1,417 $ 1,863 $ 2,315 $ 2,787 181 %Operating margin — TTM % of AWS net sales
13.2 % 16.6 % 20.6 % 23.6 % 26.1 % 28.0 % N/A Operating income: Operating income $ 195 $ 305 $ 428 $ 580 $ 604 $ 718 135 %Operating income — Y/Y growth, excluding F/X
198 % 136 % N/AOperating margin — % of AWS net sales
12.4 % 16.7 % 20.5 % 24.1 % 23.5 % 24.9 % N/AOperating income — TTM
$ 1,507 $ 1,916 $ 2,329 N/AOperating margin — TTM % of AWS net sales
19.1 % 21.6 % 23.4 % N/A Consolidated Segments Before Stock-Based Compensation and Other: Operating income $ 706 $ 1,075 $ 993 $ 1,750 $ 1,660 $ 2,108 96 %Operating income — Y/Y growth, excluding F/X
45 % 168 % N/A 67 % 128 % 92 % N/AOperating margin — % of Consolidated net sales
3.1 % 4.6 % 3.9 % 4.9 % 5.7 % 6.9 % N/AOperating income — TTM
$ 2,012 $ 2,682 $ 3,811 $ 4,523 $ 5,478 $ 6,511 143 %Operating margin — TTM % of Consolidated net sales
2.2 % 2.8 % 3.8 % 4.2 % 4.8 % 5.4 % N/A AMAZON.COM, INC. Supplemental Financial Information and Business Metrics (in millions, except inventory turnover, accounts payable days, and employee data) (unaudited) Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Y/Y %Change
Supplemental Supplemental North America Segment Net Sales: Media $ 2,969 $ 2,620 $ 2,963 $ 3,931 $ 3,208 $ 2,928 12 %Media — Y/Y growth, excluding F/X
5 % 7 % 9 % 12 % 8 % 12 % N/AMedia — TTM
$ 11,711 $ 11,867 $ 12,096 $ 12,483 $ 12,722 $ 13,030 10 % Electronics and other general merchandise $ 10,250 $ 10,987 $ 11,840 $ 17,325 $ 13,511 $ 14,459 32 %Electronics and other general merchandise — Y/Y growth, excluding F/X
31 % 32 % 35 % 28 % 32 % 32 % N/AElectronics and other general merchandise — TTM
$ 40,938 $ 43,559 $ 46,606 $ 50,401 $ 53,663 $ 57,134 31 %Electronics and other general merchandise — TTM % of North America net sales
77 % 77 % 78 % 79 % 80 % 80 % N/A Other $ 187 $ 189 $ 203 $ 245 $ 277 $ 287 52 % Supplemental International Segment Net Sales: Media $ 2,320 $ 2,094 $ 2,320 $ 3,292 $ 2,480 $ 2,283 9 % Media -- Y/Y growth, excluding F/X 2 % 3 % 6 % 5 % 9 % 7 % N/A Media -- TTM $ 10,615 $ 10,329 $ 10,140 $ 10,026 $ 10,186 $ 10,375 — % Electronics and other general merchandise $ 5,378 $ 5,425 $ 5,901 $ 8,491 $ 7,034 $ 7,504 38 %Electronics and other general merchandise — Y/Y growth, excluding F/X
21 % 31 % 32 % 31 % 33 % 36 % N/AElectronics and other general merchandise — TTM
$ 22,559 $ 23,072 $ 23,814 $ 25,196 $ 26,851 $ 28,930 25 %Electronics and other general merchandise — TTM % of International net sales
68 % 69 % 70 % 71 % 72 % 73 % N/A Other $ 47 $ 46 $ 46 $ 58 $ 52 $ 57 25 % Balance SheetCash and marketable securities — ending
$ 13,781 $ 14,001 $ 14,428 $ 19,808 $ 15,859 $ 16,540 18 %Inventory, net — ending
$ 7,369 $ 7,470 $ 8,981 $ 10,243 $ 9,582 $ 9,588 28 %Inventory turnover, average — TTM
8.8 8.9 8.6 8.5 8.6 8.6 (3 )%Property and equipment, net — ending
$ 17,736 $ 19,479 $ 20,636 $ 21,838 $ 23,308 $ 25,190 29 %Accounts payable — ending
$ 11,917 $ 12,391 $ 14,437 $ 20,397 $ 14,990 $ 16,123 30 %Accounts payable days — ending
70 74 79 77 72 77 3 % Stock-based Compensation Expense Fulfillment $ 90 $ 132 $ 122 $ 137 $ 116 $ 186 41 % Marketing $ 35 $ 50 $ 48 $ 57 $ 56 $ 80 62 % Technology and content $ 233 $ 319 $ 309 $ 364 $ 317 $ 419 31 % General and administrative $ 49 $ 62 $ 65 $ 48 $ 55 $ 83 32 %Total stock-based compensation expense
$ 407 $ 563 $ 544 $ 606 $ 544 $ 76836
%
Other WW shipping revenue $ 1,299 $ 1,399 $ 1,494 $ 2,328 $ 1,820 $ 2,000 43 %WW shipping revenue — Y/Y growth
53 % 57 % 43 % 37 % 40 % 43 % N/A WW shipping costs $ 2,309 $ 2,340 $ 2,720 $ 4,170 $ 3,275 $ 3,362 44 %WW shipping costs — Y/Y growth
26 % 29 % 35 % 37 % 42 % 44 % N/A WW net shipping costs $ 1,010 $ 941 $ 1,226 $ 1,842 $ 1,455 $ 1,362 45 %WW net shipping costs — Y/Y growth
3 % 2 % 26 % 37 % 44 % 45 % N/AWW paid units — Y/Y growth
20 % 22 % 26 % 26 % 27 % 28 % N/AWW seller unit mix — % of WW paid units
44 % 45 % 46 % 47 % 48 % 49 % N/A Employees (full-time and part-time; excludes contractors & temporary personnel) 165,000 183,100 222,400 230,800 245,200 268,900 47 %Amazon.com, Inc.Certain Definitions
Customer Accounts
Seller Accounts
AWS Customers
Units
View source version on businesswire.com: http://www.businesswire.com/news/home/20160728006553/en/
Amazon.com, Inc.Investor RelationsDarin Manneyir@amazon.comwww.amazon.com/irorPublic RelationsTy Rogersamazon-pr@amazon.comwww.amazon.com/about
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