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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 | |
---|---|---|---|---|---|---|---|---|---|---|
5.50 | 3.07% | 184.50 | 184.50 | 184.58 | 185.10 | 179.9103 | 180.75 | 54,696,492 | 22:03:23 |
DELAWARE | 000-22513 | 91-1646860 | ||
(STATE OR OTHER JURISDICTION OF INCORPORATION) | (COMMISSION FILE NO.) | (IRS EMPLOYER IDENTIFICATION NO.) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Exhibit Number | Description |
99.1 | Press Release dated January 28, 2016 announcing Amazon.com, Inc.’s Fourth Quarter 2015 and Year Ended December 31, 2015 Financial Results. |
99.2 | Information Regarding Non-GAAP Financial Measures. |
AMAZON.COM, INC. (REGISTRANT) | ||
By: | /s/ Brian T. Olsavsky | |
Brian T. Olsavsky | ||
Senior Vice President and Chief Financial Officer |
Exhibit Number | Description |
99.1 | Press Release dated January 28, 2016 announcing Amazon.com, Inc.’s Fourth Quarter 2015 and Year Ended December 31, 2015 Financial Results. |
99.2 | Information Regarding Non-GAAP Financial Measures. |
• | Fire TV remains the #1 best-selling streaming media player in the U.S., having added over 1,000 new apps, channels, and games since September, including NBC, NBC Sports, Watch HGTV, Watch Food Network, and Watch Travel Channel. |
• | The $50 Fire tablet has been the #1 best-selling, most gifted, and most wished-for product across all items available on Amazon.com since its introduction 19 weeks ago. |
• | The Alexa Skills Kit and Alexa Voice Service continue to attract innovative companies, with Ford, Invoxia, Vivint, Alarm.com, and Ooma announcing plans to integrate their products and services with Alexa. In addition, Alexa continues to get smarter with new features, including local search from Yelp, news sources from CNN and Bloomberg, enhanced IFTTT support, new alarm tones, and customized sports updates. |
• | Last quarter, developers added over 100 new capabilities to Alexa-enabled devices. Amazon Echo and Fire TV customers can now play Jeopardy!, get stock quotes with Fidelity, hear headlines from The Huffington Post, exercise with a seven-minute workout, and test their Star Wars knowledge with a trivia quiz from Disney. |
• | Amazon announced the first devices available with Amazon Dash Replenishment Service, including products from Brother, GE, and Gmate. Additionally, new brands and devices have joined the Dash Replenishment program, including Purell and Whirlpool. |
• | In 2015, worldwide paid Prime memberships increased 51% — 47% in the U.S. and even faster outside the U.S. |
• | Prime Video continues to grow internationally with nearly double the streaming customers compared with fourth quarter 2014. |
• | The Prime-exclusive Original Series Mozart in the Jungle received two Golden Globes for Best Television Series - Musical or Comedy and Best Performance by an Actor in a Television Series - Musical or Comedy (Gael García Bernal). |
• | Over the holidays Prime members made The Man in The High Castle the most watched series on Prime Video by 4.5x. The Amazon Original Series received outstanding critical acclaim, including USA Today calling it the “best new drama of the season.” |
• | The second season of hit show Transparent was named as one of the top television series of 2015 by The New York Times, Variety, IndieWire, and The New Yorker. |
• | Amazon Studios released its first Original Movie Chi-Raq, directed by Spike Lee, to rave reviews. The film has been included in 2015 “Best Films” lists from LA Weekly, The New Yorker, The Washington Post, Los Angeles Times, Slant, and Vulture. |
• | Amazon launched the Streaming Partners Program, an over-the-top streaming subscription program that gives Prime members the option to add SHOWTIME, STARZ, and dozens more video subscriptions to their Prime membership. |
• | In the fourth quarter, Prime Music streaming hours more than tripled in the U.S. compared with fourth quarter 2014. |
• | Prime Music launched in Germany and Japan, offering Prime members more than one million songs and hundreds of playlists at no additional cost to their membership. |
• | Since launching in December 2014 with one location, Prime Now has grown to more than 25 metropolitan areas across the U.S., U.K., Italy, and Japan. |
• | Prime Same Day launched in the U.K. and Germany, offering Prime members unlimited free same-day delivery on a million items. |
• | Amazon Pantry launched in the U.K., allowing Prime members to purchase daily essentials in everyday sizes and have items delivered for a low, flat-rate fee. |
• | In 2015, Fulfillment by Amazon (FBA) shipped over one billion units on behalf of sellers. The number of active sellers using FBA grew more than 50%. |
• | In the fourth quarter, FBA units represented nearly 50% of total third-party units. |
• | Payment volume from Pay with Amazon grew more than 150% year-over-year in 2015, giving Amazon shoppers a secure way to pay on thousands of websites using information already stored in their Amazon accounts. |
• | Amazon China launched the Amazon Global Store (AGS) 2.0 customer experience, which provides customers an easier and more convenient shopping experience through single login, unified shopping cart, and local payment. Additionally, AGS selection has grown to over nine million items. |
• | Amazon.in was the top e-commerce site in India throughout the fourth quarter, including the busy Diwali shopping season, according to global analytics firm comScore. |
• | Downloads of the Amazon.in mobile shopping app grew faster in the fourth quarter than any other e-commerce app in India, according to app analytics firm App Annie. |
• | Sellers on Amazon.in sold more in the fourth quarter than in all four quarters combined in 2014. |
• | Amazon Fashion, East Dane, and MyHabit return as the lead sponsor for the second season of New York Fashion Week: Men’s, hosted by The Council of Fashion Designers of America. |
• | Amazon Launchpad, a program that helps startups launch, market, and distribute their products, has worked with leading venture capital firms, startup accelerators, and crowd-funding platforms to help more than 500 startups launch over 750 products in the U.S., U.K., and China. |
• | Amazon entered into an agreement to support the construction and operation of Amazon Wind Farm U.S. Central, which is expected to generate approximately 320,000 megawatt hours (MWh) of wind energy on an annual basis. Amazon Wind Farm U.S. Central, combined with Amazon’s previously announced projects, Amazon Wind Farm Fowler Ridge, Amazon Solar Farm U.S. East in Virginia, and Amazon Wind Farm U.S. East in North Carolina, will be responsible for delivering more than 1.6 million MWh of additional renewable energy annually, roughly equivalent to the amount of energy required to power 150,000 U.S. homes for a year. |
• | Only eight months after launch, Amazon Business, a marketplace with features and benefits tailored to businesses, serves more than 200,000 businesses ranging from small businesses to Fortune 500 companies. |
• | Amazon Web Services (AWS) announced the launch of its Asia Pacific (Seoul) Region in Korea and its plans to open a new region in Canada. The AWS Cloud is now available from 32 Availability Zones across 12 geographic regions |
• | AWS announced the general availability of Amazon WorkMail, a secure, managed business email and calendaring service with support for existing desktop and mobile email clients. |
• | AWS announced the general availability of AWS IoT, a managed cloud platform that lets billions of connected devices — such as mobile phones, cars, factory floors, aircraft engines, sensor grids, and more — easily and securely interact with cloud applications and other devices. AWS IoT can support trillions of messages, and can process, route, and keep track of those messages to AWS endpoints and other devices reliably and securely, even when the devices aren’t connected. |
• | AWS announced AWS Certificate Manager (ACM), a new service that enables customers to easily provision, manage, and deploy Secure Sockets Layer/Transport Layer Security (SSL/TLS) certificates for use with AWS services. SSL/TLS certificates are used to secure network communications and establish the identity of websites over the Internet. Certificates, which typically cost between $45 and $499, are provided to AWS customers free of charge through ACM and are verified by Amazon’s certificate authority, Amazon Trust Services. |
• | AWS launched EC2 Scheduled Reserved Instances, allowing customers to reserve capacity for their applications that run on a part-time, recurring basis with a daily, weekly, or monthly schedule over the course of a one-year term. |
• | AWS announced 722 significant new services and features in 2015, a 40% increase over 2014. |
• | Net sales are expected to be between $26.5 billion and $29.0 billion, or to grow between 17% and 28% compared with first quarter 2015. |
• | Operating income is expected to be between $100 million and $700 million, compared with $255 million in first quarter 2015. |
• | This guidance includes approximately $600 million for stock-based compensation and other operating expense (income), net. It assumes, among other things, that no additional business acquisitions, investments, restructurings, or legal settlements are concluded and that there are no further revisions to stock-based compensation estimates. |
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
(unaudited) | |||||||||||||||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | $ | 10,709 | $ | 5,258 | $ | 14,557 | $ | 8,658 | |||||||
OPERATING ACTIVITIES: | |||||||||||||||
Net income (loss) | 482 | 214 | 596 | (241 | ) | ||||||||||
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 | 1,752 | 1,379 | 6,281 | 4,746 | |||||||||||
Stock-based compensation | 606 | 408 | 2,119 | 1,497 | |||||||||||
Other operating expense (income), net | 35 | 36 | 155 | 129 | |||||||||||
Losses (gains) on sales of marketable securities, net | 1 | — | 5 | (3 | ) | ||||||||||
Other expense (income), net | 79 | 78 | 245 | 62 | |||||||||||
Deferred income taxes | 190 | 185 | 81 | (316 | ) | ||||||||||
Excess tax benefits from stock-based compensation | 93 | 115 | (119 | ) | (6 | ) | |||||||||
Changes in operating assets and liabilities: | |||||||||||||||
Inventories | (1,343 | ) | (1,139 | ) | (2,187 | ) | (1,193 | ) | |||||||
Accounts receivable, net and other | (1,178 | ) | (1,104 | ) | (1,755 | ) | (1,039 | ) | |||||||
Accounts payable | 6,140 | 5,053 | 4,294 | 1,759 | |||||||||||
Accrued expenses and other | 1,836 | 1,451 | 913 | 706 | |||||||||||
Additions to unearned revenue | 2,422 | 1,378 | 7,401 | 4,433 | |||||||||||
Amortization of previously unearned revenue | (2,303 | ) | (1,339 | ) | (6,109 | ) | (3,692 | ) | |||||||
Net cash provided by (used in) operating activities | 8,812 | 6,715 | 11,920 | 6,842 | |||||||||||
INVESTING ACTIVITIES: | |||||||||||||||
Purchases of property and equipment, including internal-use software and website development, net | (1,309 | ) | (1,144 | ) | (4,589 | ) | (4,893 | ) | |||||||
Acquisitions, net of cash acquired, and other | (317 | ) | (53 | ) | (795 | ) | (979 | ) | |||||||
Sales and maturities of marketable securities | 1,135 | 355 | 3,025 | 3,349 | |||||||||||
Purchases of marketable securities | (1,359 | ) | (1,623 | ) | (4,091 | ) | (2,542 | ) | |||||||
Net cash provided by (used in) investing activities | (1,850 | ) | (2,465 | ) | (6,450 | ) | (5,065 | ) | |||||||
FINANCING ACTIVITIES: | |||||||||||||||
Excess tax benefits from stock-based compensation | (93 | ) | (115 | ) | 119 | 6 | |||||||||
Proceeds from long-term debt and other | 93 | 5,981 | 353 | 6,359 | |||||||||||
Repayments of long-term debt and other | (940 | ) | (183 | ) | (1,652 | ) | (513 | ) | |||||||
Principal repayments of capital lease obligations | (724 | ) | (406 | ) | (2,462 | ) | (1,285 | ) | |||||||
Principal repayments of finance lease obligations | (26 | ) | (68 | ) | (121 | ) | (135 | ) | |||||||
Net cash provided by (used in) financing activities | (1,690 | ) | 5,209 | (3,763 | ) | 4,432 | |||||||||
Foreign-currency effect on cash and cash equivalents | (91 | ) | (160 | ) | (374 | ) | (310 | ) | |||||||
Net increase (decrease) in cash and cash equivalents | 5,181 | 9,299 | 1,333 | 5,899 | |||||||||||
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | 15,890 | $ | 14,557 | $ | 15,890 | $ | 14,557 | |||||||
SUPPLEMENTAL CASH FLOW INFORMATION: | |||||||||||||||
Cash paid for interest on long-term debt | $ | 148 | $ | 36 | $ | 325 | $ | 91 | |||||||
Cash paid for interest on capital and finance lease obligations | 44 | 29 | 153 | 86 | |||||||||||
Cash paid for income taxes (net of refunds) | 73 | 30 | 273 | 177 | |||||||||||
Property and equipment acquired under capital leases | 1,332 | 1,214 | 4,717 | 4,008 | |||||||||||
Property and equipment acquired under build-to-suit leases | 163 | 214 | 544 | 920 |
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
(unaudited) | |||||||||||||||
Net product sales | $ | 26,618 | $ | 23,102 | $ | 79,268 | $ | 70,080 | |||||||
Net service sales | 9,129 | 6,226 | 27,738 | 18,908 | |||||||||||
Total net sales | 35,747 | 29,328 | 107,006 | 88,988 | |||||||||||
Operating expenses (1): | |||||||||||||||
Cost of sales | 24,341 | 20,671 | 71,651 | 62,752 | |||||||||||
Fulfillment | 4,546 | 3,424 | 13,410 | 10,766 | |||||||||||
Marketing | 1,755 | 1,526 | 5,254 | 4,332 | |||||||||||
Technology and content | 3,571 | 2,635 | 12,540 | 9,275 | |||||||||||
General and administrative | 390 | 442 | 1,747 | 1,552 | |||||||||||
Other operating expense (income), net | 36 | 39 | 171 | 133 | |||||||||||
Total operating expenses | 34,639 | 28,737 | 104,773 | 88,810 | |||||||||||
Income from operations | 1,108 | 591 | 2,233 | 178 | |||||||||||
Interest income | 13 | 8 | 50 | 39 | |||||||||||
Interest expense | (115 | ) | (74 | ) | (459 | ) | (210 | ) | |||||||
Other income (expense), net | (68 | ) | (96 | ) | (256 | ) | (118 | ) | |||||||
Total non-operating income (expense) | (170 | ) | (162 | ) | (665 | ) | (289 | ) | |||||||
Income (loss) before income taxes | 938 | 429 | 1,568 | (111 | ) | ||||||||||
Provision for income taxes | (453 | ) | (205 | ) | (950 | ) | (167 | ) | |||||||
Equity-method investment activity, net of tax | (3 | ) | (10 | ) | (22 | ) | 37 | ||||||||
Net income (loss) | $ | 482 | $ | 214 | $ | 596 | $ | (241 | ) | ||||||
Basic earnings per share | $ | 1.03 | $ | 0.46 | $ | 1.28 | $ | (0.52 | ) | ||||||
Diluted earnings per share | $ | 1.00 | $ | 0.45 | $ | 1.25 | $ | (0.52 | ) | ||||||
Weighted-average shares used in computation of earnings per share: | |||||||||||||||
Basic | 470 | 464 | 467 | 462 | |||||||||||
Diluted | 481 | 472 | 477 | 462 | |||||||||||
_____________ | |||||||||||||||
(1) Includes stock-based compensation as follows: | |||||||||||||||
Fulfillment | $ | 137 | $ | 97 | $ | 482 | $ | 375 | |||||||
Marketing | 57 | 34 | 190 | 125 | |||||||||||
Technology and content | 364 | 226 | 1,224 | 804 | |||||||||||
General and administrative | 48 | 51 | 223 | 193 |
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
(unaudited) | |||||||||||||||
Net income (loss) | $ | 482 | $ | 214 | $ | 596 | $ | (241 | ) | ||||||
Other comprehensive income (loss): | |||||||||||||||
Foreign currency translation adjustments, net of tax of $7, $(3), $10, and $(3) | (40 | ) | (116 | ) | (210 | ) | (325 | ) | |||||||
Net change in unrealized gains (losses) on available-for-sale securities: | |||||||||||||||
Unrealized gains (losses), net of tax of $1, $1, $(5), and $1 | (9 | ) | 2 | (7 | ) | 2 | |||||||||
Reclassification adjustment for losses (gains) included in “Other income (expense), net,” net of tax of $0, $(1), $0, and $(1) | 1 | (2 | ) | 5 | (3 | ) | |||||||||
Net unrealized gains (losses) on available-for-sale securities | (8 | ) | — | (2 | ) | (1 | ) | ||||||||
Total other comprehensive income (loss) | (48 | ) | (116 | ) | (212 | ) | (326 | ) | |||||||
Comprehensive income (loss) | $ | 434 | $ | 98 | $ | 384 | $ | (567 | ) |
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
(unaudited) | |||||||||||||||
North America | |||||||||||||||
Net sales | $ | 21,501 | $ | 17,333 | $ | 63,708 | $ | 50,834 | |||||||
Segment operating expenses (1) | 20,498 | 16,600 | 60,957 | 49,542 | |||||||||||
Segment operating income (loss) | $ | 1,003 | $ | 733 | $ | 2,751 | $ | 1,292 | |||||||
International | |||||||||||||||
Net sales | $ | 11,841 | $ | 10,575 | $ | 35,418 | $ | 33,510 | |||||||
Segment operating expenses (1) | 11,781 | 10,510 | 35,509 | 33,654 | |||||||||||
Segment operating income (loss) | $ | 60 | $ | 65 | $ | (91 | ) | $ | (144 | ) | |||||
AWS | |||||||||||||||
Net sales | $ | 2,405 | $ | 1,420 | $ | 7,880 | $ | 4,644 | |||||||
Segment operating expenses (1) | 1,718 | 1,180 | 6,017 | 3,984 | |||||||||||
Segment operating income (loss) | $ | 687 | $ | 240 | $ | 1,863 | $ | 660 | |||||||
Consolidated | |||||||||||||||
Net sales | $ | 35,747 | $ | 29,328 | $ | 107,006 | $ | 88,988 | |||||||
Segment operating expenses (1) | 33,997 | 28,290 | 102,483 | 87,180 | |||||||||||
Segment operating income (loss) | 1,750 | 1,038 | 4,523 | 1,808 | |||||||||||
Stock-based compensation | (606 | ) | (408 | ) | (2,119 | ) | (1,497 | ) | |||||||
Other operating income (expense), net | (36 | ) | (39 | ) | (171 | ) | (133 | ) | |||||||
Income from operations | 1,108 | 591 | 2,233 | 178 | |||||||||||
Total non-operating income (expense) | (170 | ) | (162 | ) | (665 | ) | (289 | ) | |||||||
Provision for income taxes | (453 | ) | (205 | ) | (950 | ) | (167 | ) | |||||||
Equity-method investment activity, net of tax | (3 | ) | (10 | ) | (22 | ) | 37 | ||||||||
Net income (loss) | $ | 482 | $ | 214 | $ | 596 | $ | (241 | ) | ||||||
Segment Highlights: | |||||||||||||||
Y/Y net sales growth: | |||||||||||||||
North America | 24 | % | 21 | % | 25 | % | 23 | % | |||||||
International | 12 | 3 | 6 | 12 | |||||||||||
AWS | 69 | 47 | 70 | 49 | |||||||||||
Consolidated | 22 | 15 | 20 | 20 | |||||||||||
Net sales mix: | |||||||||||||||
North America | 60 | % | 59 | % | 60 | % | 57 | % | |||||||
International | 33 | 36 | 33 | 38 | |||||||||||
AWS | 7 | 5 | 7 | 5 | |||||||||||
Consolidated | 100 | % | 100 | % | 100 | % | 100 | % |
(1) | Excludes stock-based compensation and “Other operating expense (income), net,” which are not allocated to segments. |
Three Months Ended December 31, | Twelve Months Ended December 31, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
(unaudited) | |||||||||||||||
Net Sales: | |||||||||||||||
North America | |||||||||||||||
Media | $ | 3,931 | $ | 3,544 | $ | 12,483 | $ | 11,567 | |||||||
Electronics and other general merchandise | 17,325 | 13,529 | 50,401 | 38,517 | |||||||||||
Other (1) | 245 | 260 | 824 | 750 | |||||||||||
Total North America | $ | 21,501 | $ | 17,333 | $ | 63,708 | $ | 50,834 | |||||||
International | |||||||||||||||
Media | $ | 3,292 | $ | 3,406 | $ | 10,026 | $ | 10,938 | |||||||
Electronics and other general merchandise | 8,491 | 7,109 | 25,196 | 22,369 | |||||||||||
Other (1) | 58 | 60 | 196 | 203 | |||||||||||
Total International | $ | 11,841 | $ | 10,575 | $ | 35,418 | $ | 33,510 | |||||||
Year-over-year Percentage Growth: | |||||||||||||||
North America | |||||||||||||||
Media | 11 | % | 1 | % | 8 | % | 7 | % | |||||||
Electronics and other general merchandise | 28 | 27 | 31 | 28 | |||||||||||
Other | (6 | ) | 28 | 10 | 22 | ||||||||||
Total North America | 24 | 21 | 25 | 23 | |||||||||||
International | |||||||||||||||
Media | (3 | )% | (8 | )% | (8 | )% | — | % | |||||||
Electronics and other general merchandise | 19 | 10 | 13 | 19 | |||||||||||
Other | (3 | ) | (6 | ) | (3 | ) | (3 | ) | |||||||
Total International | 12 | 3 | 6 | 12 | |||||||||||
Year-over-year Percentage Growth, excluding the effect of foreign exchange rates: | |||||||||||||||
North America | |||||||||||||||
Media | 12 | % | 1 | % | 8 | % | 7 | % | |||||||
Electronics and other general merchandise | 28 | 27 | 31 | 29 | |||||||||||
Other | (6 | ) | 28 | 10 | 22 | ||||||||||
Total North America | 24 | 21 | 26 | 23 | |||||||||||
International | |||||||||||||||
Media | 5 | % | (1 | )% | 4 | % | 2 | % | |||||||
Electronics and other general merchandise | 31 | 19 | 29 | 21 | |||||||||||
Other | 5 | 1 | 10 | (3 | ) | ||||||||||
Total International | 22 | 12 | 21 | 14 |
(1) | Includes sales from non-retail activities, such as certain advertising services and our co-branded credit card agreements. |
December 31, 2015 | December 31, 2014 | ||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 15,890 | $ | 14,557 | |||
Marketable securities | 3,918 | 2,859 | |||||
Inventories | 10,243 | 8,299 | |||||
Accounts receivable, net and other | 6,423 | 5,612 | |||||
Total current assets | 36,474 | 31,327 | |||||
Property and equipment, net | 21,838 | 16,967 | |||||
Goodwill | 3,759 | 3,319 | |||||
Other assets | 3,373 | 2,892 | |||||
Total assets | $ | 65,444 | $ | 54,505 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 20,397 | $ | 16,459 | |||
Accrued expenses and other | 10,384 | 9,807 | |||||
Unearned revenue | 3,118 | 1,823 | |||||
Total current liabilities | 33,899 | 28,089 | |||||
Long-term debt | 8,235 | 8,265 | |||||
Other long-term liabilities | 9,926 | 7,410 | |||||
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 — 494 and 488 | |||||||
Outstanding shares — 471 and 465 | 5 | 5 | |||||
Treasury stock, at cost | (1,837 | ) | (1,837 | ) | |||
Additional paid-in capital | 13,394 | 11,135 | |||||
Accumulated other comprehensive loss | (723 | ) | (511 | ) | |||
Retained earnings | 2,545 | 1,949 | |||||
Total stockholders’ equity | 13,384 | 10,741 | |||||
Total liabilities and stockholders’ equity | $ | 65,444 | $ | 54,505 |
Q4 2014 | Q1 2015 | Q2 2015 | Q3 2015 | Q4 2015 | Y/Y % Change | ||||||||||||
Cash Flows and Shares | |||||||||||||||||
Operating cash flow -- trailing twelve months (TTM) | $ | 6,842 | $ | 7,845 | $ | 8,980 | $ | 9,823 | $ | 11,920 | 74 | % | |||||
Operating cash flow -- TTM Y/Y growth (decline) | 25 | % | 47 | % | 69 | % | 72 | % | 74 | % | N/A | ||||||
Purchases of property and equipment, including internal-use software and website development, net -- TTM | $ | 4,893 | $ | 4,684 | $ | 4,607 | $ | 4,424 | $ | 4,589 | (6 | )% | |||||
Principal repayments of capital lease obligations -- TTM | $ | 1,285 | $ | 1,537 | $ | 1,832 | $ | 2,144 | $ | 2,462 | 92 | % | |||||
Principal repayments of finance lease obligations -- TTM | $ | 135 | $ | 132 | $ | 155 | $ | 163 | $ | 121 | (11 | )% | |||||
Property and equipment acquired under capital leases -- TTM | $ | 4,008 | $ | 4,246 | $ | 4,710 | $ | 4,599 | $ | 4,717 | 18 | % | |||||
Free cash flow -- TTM (1) | $ | 1,949 | $ | 3,161 | $ | 4,373 | $ | 5,399 | $ | 7,331 | 276 | % | |||||
Invested capital (2) | $ | 21,021 | $ | 23,090 | $ | 25,289 | $ | 27,425 | $ | 29,694 | 41 | % | |||||
Free cash flow less lease principal repayments -- TTM (3) | $ | 529 | $ | 1,492 | $ | 2,386 | $ | 3,092 | $ | 4,748 | 797 | % | |||||
Free cash flow less finance lease principal repayments and assets acquired under capital leases -- TTM (4) | $ | (2,194 | ) | $ | (1,217 | ) | $ | (492 | ) | $ | 637 | $ | 2,493 | N/A | |||
Common shares and stock-based awards outstanding | 483 | 483 | 488 | 489 | 490 | 1 | % | ||||||||||
Common shares outstanding | 465 | 466 | 468 | 469 | 471 | 1 | % | ||||||||||
Stock-based awards outstanding | 18 | 17 | 20 | 20 | 19 | 7 | % | ||||||||||
Stock-based awards outstanding -- % of common shares outstanding | 3.8 | % | 3.8 | % | 4.4 | % | 4.3 | % | 4.1 | % | N/A | ||||||
Results of Operations | |||||||||||||||||
Worldwide (WW) net sales | $ | 29,328 | $ | 22,717 | $ | 23,185 | $ | 25,358 | $ | 35,747 | 22 | % | |||||
WW net sales -- Y/Y growth, excluding F/X | 18 | % | 22 | % | 27 | % | 30 | % | 26 | % | N/A | ||||||
WW net sales -- TTM | $ | 88,988 | $ | 91,963 | $ | 95,808 | $ | 100,588 | $ | 107,006 | 20 | % | |||||
WW net sales -- TTM Y/Y growth, excluding F/X | 20 | % | 20 | % | 22 | % | 24 | % | 26 | % | N/A | ||||||
Operating income (loss) | $ | 591 | $ | 255 | $ | 464 | $ | 406 | $ | 1,108 | 88 | % | |||||
Operating income/loss -- Y/Y growth (decline), excluding F/X | 22 | % | 90 | % | N/A | N/A | 84 | % | N/A | ||||||||
Operating margin -- % of WW net sales | 2.0 | % | 1.1 | % | 2.0 | % | 1.6 | % | 3.1 | % | N/A | ||||||
Operating income (loss) -- TTM | $ | 178 | $ | 287 | $ | 765 | $ | 1,715 | $ | 2,233 | N/A | ||||||
Operating income/loss -- TTM Y/Y growth (decline), excluding F/X | (79 | )% | (56 | )% | 35 | % | N/A | N/A | N/A | ||||||||
Operating margin -- TTM % of WW net sales | 0.2 | % | 0.3 | % | 0.8 | % | 1.7 | % | 2.1 | % | N/A | ||||||
Net income (loss) | $ | 214 | $ | (57 | ) | $ | 92 | $ | 79 | $ | 482 | 125 | % | ||||
Net income (loss) per diluted share | $ | 0.45 | $ | (0.12 | ) | $ | 0.19 | $ | 0.17 | $ | 1.00 | 121 | % | ||||
Net income (loss) -- TTM | $ | (241 | ) | $ | (405 | ) | $ | (188 | ) | $ | 328 | $ | 596 | N/A | |||
Net income (loss) per diluted share -- TTM | $ | (0.52 | ) | $ | (0.88 | ) | $ | (0.41 | ) | $ | 0.69 | $ | 1.25 | 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) | Average Total Assets minus Current Liabilities (excluding current portion of Long-Term Debt) over five quarter ends. |
(3) | 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. |
(4) | 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. |
Q4 2014 | Q1 2015 | Q2 2015 | Q3 2015 | Q4 2015 | Y/Y % Change | ||||||||||||
Segments | |||||||||||||||||
North America Segment: | |||||||||||||||||
Net sales | $ | 17,333 | $ | 13,406 | $ | 13,796 | $ | 15,006 | $ | 21,501 | 24 | % | |||||
Net sales -- Y/Y growth, excluding F/X | 21 | % | 24 | % | 26 | % | 29 | % | 24 | % | N/A | ||||||
Net sales -- TTM | $ | 50,834 | $ | 53,432 | $ | 56,233 | $ | 59,540 | $ | 63,708 | 25 | % | |||||
Operating income (loss) | $ | 733 | $ | 517 | $ | 703 | $ | 528 | $ | 1,003 | 37 | % | |||||
Operating income/loss -- Y/Y growth (decline), excluding F/X | 77 | % | 111 | % | N/A | 36 | % | N/A | |||||||||
Operating margin -- % of North America net sales | 4.2 | % | 3.9 | % | 5.1 | % | 3.5 | % | 4.7 | % | N/A | ||||||
Operating income (loss) -- TTM | $ | 1,292 | $ | 1,520 | $ | 1,893 | $ | 2,480 | $ | 2,751 | 113 | % | |||||
Operating margin -- TTM % of North America net sales | 2.5 | % | 2.8 | % | 3.4 | % | 4.2 | % | 4.3 | % | N/A | ||||||
International Segment: | |||||||||||||||||
Net sales | $ | 10,575 | $ | 7,745 | $ | 7,565 | $ | 8,267 | $ | 11,841 | 12 | % | |||||
Net sales -- Y/Y growth, excluding F/X | 12 | % | 14 | % | 22 | % | 24 | % | 22 | % | N/A | ||||||
Net sales -- TTM | $ | 33,510 | $ | 33,371 | $ | 33,598 | $ | 34,154 | $ | 35,418 | 6 | % | |||||
Net sales -- TTM % of WW net sales | 38 | % | 36 | % | 35 | % | 34 | % | 33 | % | N/A | ||||||
Operating income (loss) | $ | 65 | $ | (76 | ) | $ | (19 | ) | $ | (56 | ) | $ | 60 | (7 | )% | ||
Operating income/loss -- Y/Y growth (decline), excluding F/X | N/A | N/A | N/A | 65 | % | N/A | |||||||||||
Operating margin -- % of International net sales | 0.6 | % | (1.0 | )% | (0.2 | )% | (0.7 | )% | 0.5 | % | N/A | ||||||
Operating income (loss) -- TTM | $ | (144 | ) | $ | (188 | ) | $ | (205 | ) | $ | (86 | ) | $ | (91 | ) | (36 | )% |
Operating margin -- TTM % of International net sales | (0.4 | )% | (0.6 | )% | (0.6 | )% | (0.3 | )% | (0.3 | )% | N/A | ||||||
AWS Segment: | |||||||||||||||||
Net sales | $ | 1,420 | $ | 1,566 | $ | 1,824 | $ | 2,085 | $ | 2,405 | 69 | % | |||||
Net sales -- Y/Y growth, excluding F/X | 47 | % | 49 | % | 81 | % | 78 | % | 69 | % | N/A | ||||||
Net sales -- TTM | $ | 4,644 | $ | 5,160 | $ | 5,977 | $ | 6,894 | $ | 7,880 | 70 | % | |||||
Net sales -- TTM % of WW net sales | 5 | % | 6 | % | 6 | % | 7 | % | 7 | % | N/A | ||||||
Operating income (loss) | $ | 240 | $ | 265 | $ | 391 | $ | 521 | $ | 687 | 186 | % | |||||
Operating income/loss -- Y/Y growth (decline), excluding F/X | (13 | )% | 314 | % | 353 | % | 161 | % | N/A | ||||||||
Operating margin -- % of AWS net sales | 16.9 | % | 16.9 | % | 21.4 | % | 25.0 | % | 28.5 | % | N/A | ||||||
Operating income (loss) -- TTM | $ | 660 | $ | 680 | $ | 993 | $ | 1,417 | $ | 1,863 | 182 | % | |||||
Operating margin -- TTM % of AWS net sales | 14.2 | % | 13.2 | % | 16.6 | % | 20.6 | % | 23.6 | % | N/A | ||||||
Consolidated Segments: | |||||||||||||||||
Operating expenses (5) | $ | 28,290 | $ | 22,011 | $ | 22,110 | $ | 24,365 | $ | 33,997 | 20 | % | |||||
Operating expenses -- TTM (5) | $ | 87,180 | $ | 89,951 | $ | 93,126 | $ | 96,777 | $ | 102,483 | 18 | % | |||||
Operating income (loss) | $ | 1,038 | $ | 706 | $ | 1,075 | $ | 993 | $ | 1,750 | 69 | % | |||||
Operating income/loss -- Y/Y growth (decline), excluding F/X | 22 | % | 45 | % | 168 | % | N/A | 67 | % | N/A | |||||||
Operating margin -- % of Consolidated sales | 3.5 | % | 3.1 | % | 4.6 | % | 3.9 | % | 4.9 | % | N/A | ||||||
Operating income (loss) -- TTM | $ | 1,808 | $ | 2,012 | $ | 2,682 | $ | 3,811 | $ | 4,523 | 150 | % | |||||
Operating income/loss -- TTM Y/Y growth (decline), excluding F/X | (10 | )% | (1 | )% | 34 | % | 134 | % | 149 | % | N/A | ||||||
Operating margin -- TTM % of Consolidated net sales | 2.0 | % | 2.2 | % | 2.8 | % | 3.8 | % | 4.2 | % | N/A |
(5) | Represents cost of sales, fulfillment, marketing, technology and content, and general and administrative operating expenses, excluding stock-based compensation. |
Q4 2014 | Q1 2015 | Q2 2015 | Q3 2015 | Q4 2015 | Y/Y % Change | ||||||||||||
Supplemental | |||||||||||||||||
Supplemental North America Segment Net Sales: | |||||||||||||||||
Media | $ | 3,544 | $ | 2,969 | $ | 2,620 | $ | 2,963 | $ | 3,931 | 11 | % | |||||
Media -- Y/Y growth, excluding F/X | 1 | % | 5 | % | 7 | % | 9 | % | 12 | % | N/A | ||||||
Media -- TTM | $ | 11,567 | $ | 11,711 | $ | 11,867 | $ | 12,096 | $ | 12,483 | 8 | % | |||||
Electronics and other general merchandise | $ | 13,529 | $ | 10,250 | $ | 10,987 | $ | 11,840 | $ | 17,325 | 28 | % | |||||
Electronics and other general merchandise -- Y/Y growth, excluding F/X | 27 | % | 31 | % | 32 | % | 35 | % | 28 | % | N/A | ||||||
Electronics and other general merchandise -- TTM | $ | 38,517 | $ | 40,938 | $ | 43,559 | $ | 46,606 | $ | 50,401 | 31 | % | |||||
Electronics and other general merchandise -- TTM % of North America net sales | 76 | % | 77 | % | 77 | % | 78 | % | 79 | % | N/A | ||||||
Other | $ | 260 | $ | 187 | $ | 189 | $ | 203 | $ | 245 | (6 | )% | |||||
Supplemental International Segment Net Sales: | |||||||||||||||||
Media | $ | 3,406 | $ | 2,320 | $ | 2,094 | $ | 2,320 | $ | 3,292 | (3 | )% | |||||
Media -- Y/Y growth, excluding F/X | (1 | )% | 2 | % | 3 | % | 6 | % | 5 | % | N/A | ||||||
Media -- TTM | $ | 10,938 | $ | 10,615 | $ | 10,329 | $ | 10,140 | $ | 10,026 | (8 | )% | |||||
Electronics and other general merchandise | $ | 7,109 | $ | 5,378 | $ | 5,425 | $ | 5,901 | $ | 8,491 | 19 | % | |||||
Electronics and other general merchandise -- Y/Y growth, excluding F/X | 19 | % | 21 | % | 31 | % | 32 | % | 31 | % | N/A | ||||||
Electronics and other general merchandise -- TTM | $ | 22,369 | $ | 22,559 | $ | 23,072 | $ | 23,814 | $ | 25,196 | 13 | % | |||||
Electronics and other general merchandise -- TTM % of International net sales | 67 | % | 68 | % | 69 | % | 70 | % | 71 | % | N/A | ||||||
Other | $ | 60 | $ | 47 | $ | 46 | $ | 46 | $ | 58 | (3 | )% | |||||
Balance Sheet | |||||||||||||||||
Cash and marketable securities -- ending | $ | 17,416 | $ | 13,781 | $ | 14,001 | $ | 14,428 | $ | 19,808 | 14 | % | |||||
Inventory, net -- ending | $ | 8,299 | $ | 7,369 | $ | 7,470 | $ | 8,981 | $ | 10,243 | 23 | % | |||||
Inventory turnover, average -- TTM | 8.6 | 8.8 | 8.9 | 8.6 | 8.5 | (2 | )% | ||||||||||
Property and equipment, net -- ending | $ | 16,967 | $ | 17,736 | $ | 19,479 | $ | 20,636 | $ | 21,838 | 29 | % | |||||
Accounts payable -- ending | $ | 16,459 | $ | 11,917 | $ | 12,391 | $ | 14,437 | $ | 20,397 | 24 | % | |||||
Accounts payable days -- ending | 73 | 70 | 74 | 79 | 77 | 5 | % | ||||||||||
Other | |||||||||||||||||
WW shipping revenue | $ | 1,701 | $ | 1,299 | $ | 1,399 | $ | 1,494 | $ | 2,328 | 37 | % | |||||
WW shipping revenue - % of net sales (6) | 6.1 | % | 6.1 | % | 6.6 | % | 6.4 | % | 7.0 | % | N/A | ||||||
WW shipping costs | $ | 3,049 | $ | 2,309 | $ | 2,340 | $ | 2,720 | $ | 4,170 | 37 | % | |||||
WW shipping costs - % of net sales (6) | 10.9 | % | 10.9 | % | 11.0 | % | 11.7 | % | 12.5 | % | N/A | ||||||
WW net shipping costs | $ | 1,348 | $ | 1,010 | $ | 941 | $ | 1,226 | $ | 1,842 | 37 | % | |||||
WW net shipping costs -- % of WW net sales (6) | 4.8 | % | 4.8 | % | 4.4 | % | 5.3 | % | 5.5 | % | N/A | ||||||
WW paid units -- Y/Y growth | 20 | % | 20 | % | 22 | % | 26 | % | 26 | % | N/A | ||||||
WW seller unit mix -- % of WW paid units | 43 | % | 44 | % | 45 | % | 46 | % | 47 | % | N/A | ||||||
Employees (full-time and part-time; excludes contractors & temporary personnel) | 154,100 | 165,000 | 183,100 | 222,400 | 230,800 | 50 | % |
(6) | Includes North America and International segment net sales. |
• | References to customers mean customer accounts, which are unique e-mail addresses, established either when a customer places an order or when a customer orders from other sellers on our websites. Customer accounts exclude certain customers, including customers associated with certain of our acquisitions, Amazon Payments customers, AWS customers, and the customers of select companies with whom we have a technology alliance or marketing and promotional relationship. Customers are considered active when they have placed an order during the preceding twelve-month period. |
• | References to sellers means seller accounts, which are established when a seller receives an order from a customer account. Sellers are considered active when they have received an order from a customer during the preceding twelve-month period. |
• | References to AWS customers mean unique AWS customer accounts, which are unique e-mail addresses that are eligible to use AWS services. This includes AWS accounts in the AWS free tier. Multiple users accessing AWS services via one account are counted as a single account. Customers are considered active when they have had AWS usage activity during the preceding one-month period. |
• | References to units mean physical and digital units sold (net of returns and cancellations) by us and sellers at Amazon domains worldwide — for example www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.co.jp, www.amazon.fr, www.amazon.ca, www.amazon.cn, www.amazon.it, www.amazon.es, www.amazon.com.br, www.amazon.in, www.amazon.com.mx, www.amazon.com.au, www.amazon.nl, www.diapers.com, www.shopbop.com and www.zappos.com — as well as Amazon-owned items sold through non-Amazon domains. Units sold are paid units and do not include units associated with AWS, certain acquisitions, rental businesses, or advertising businesses, or Amazon gift cards. |
Amazon.com Investor Relations | Amazon.com Public Relations | |
Phil Hardin, 206/266-2171 | Ty Rogers, 206/266-7180 | |
www.amazon.com/ir | www.amazon.com/pr |
1 Year Amazon.com Chart |
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