Amazon Q1 Net Sales Up 38% To $9.86 Billion

Amazon reported today that its net sales for Q1 were up 38% to $9.86 billion up from $7.13 billion in Q1 2010.

Amazon chief Jeff Bezos had this statement: “In the last 90 days, we announced Kindle with Special Offers, Kindle Library Lending, Audible audiobooks on Kindle, Appstore for Android, Amazon for Windows Phone 7, Checkout by Amazon in both Germany and the U.K., a Kindle Store in Germany, Cloud Drive, Cloud Player, and Prime Instant Video – just to call out a few of the things we’ve been working on.”

Amazon expects net sales to continue to rise in Q2. The company is predicting net sales to be between $8.85 billion and $9.65 billion, or to grow between 35% and 47% compared with second quarter 2010.