Amazon announces first quarter results, triples profits

If there’s a slowdown in retailing, Amazon, the third largest public company in the world, is definitely not feeling it. Amazon announced its first quarter results yesterday. Net sales increased 13 percent to $143.3 billion, compared with $127.4 billion in the first quarter of 2023. Amazon is global, but North American sales kept up, posting an annual increase in the quarter of 12 percent. The company’s operating income increased to $15.3 billion in the first quarter, more than three times the profits of $4.8 billion in the first quarter of 2023.