Collins Stewart Reports Strong Revenues For Amazon

According to Collins Stewart, Amazon.com AMZN reported a strong top-line quarter with revenues of $9.91B, up 51% Y/Y, 6% higher than consensus on accelerating ebook sales, across-the-board strength, Japan recovery and FX benefit. Collins Stewart said that even on an FX-neutral basis, revenue growth accelerated to 44% Y/Y from 36% in 1Q11. “North American sales grew 51% Y/Y, faster than International sales at 36% ex-FX, since eCommerce share shift and Kindle sales are both levered more towards US. International Media growth accelerated to 20% Y/Y ex-FX s. 9% in 1Q due to inclusion of the LOVEFiLM acquisition, Japan recovery and the launch of country-specific Kindle store in Germany.” Amazon.com closed yesterday at $214.18.