Earnings carousel keeps on spinning

Amazon.com scored revenues of $7.13 billion in its first quarter, an increase of 46 percent to the same quarter of last year, when it had revenues worth $4.89 billion. Net profit grew 68 percent year over year, increasing from $177 million to $299 million. The online retailer said business in the US and Canada contributed $3.78 billion to its revenues, whereas the UK, Germany, Japan, France and China ordered books, electronics and kitchen apparel worth $3.35 billion.

Ericsson states sales went down 9 percent, from 49.6 billion Swedish Kronor ($6.9 billion) to 45.1 billion ($6.25 billion). Net income was 1.3 billion Kronor ($180 million), 30 percent less than last year.

Ericsson said operators in various developing markets refrained from making investments, hitting sales in the network business. However, service sales were strong and were partly able to offset lower demand for network eequipment. Network sales decreased 14 percent year over year to 24.7 billion Kronor , whereas services grew by 3 percent to 18.1. billion Kronor.

Rambus, everyone’s favourite fabless memory company, posted revenues of $161.9 million in the first quarter, an improvement of a whopping 492 percent compared to the same quarter of last year when sales amounted to $27.3 million. According to Rambus, growth was thanks to a settlement with Samsung. Samsung is going to shell out $900 million to Rambus over the course of the next five years.

European chip maker STMicroelectronics net sales totaled $2.33 billion, an increase of 40,1 percent year over year. The net profit amounted to $57 million, compared to a net loss of $541 million in 2009. STMicro expects to grow 24 to 31 percent year over year in its second quarter, or 6 to 12 percent sequentially.

Freescale Semiconductor announced net sales worth a total of $1.02 billion, in contrast to $840 million in last year’s first quarter. The net loss amounted to $257 million. Sales in Freescale’s cellular business grew from $95 million in 2009 to $121 million this year. Networking and multimedia net sales rose from $228 million to $255 million. Freescale had reserves totalling $1.19 billion at the end of the first quarter.