Amazon 1Q Beats Estimates, Stock Jumps

By: AP
By: AP
Amazon.com Inc. posted first-quarter profits Thursday that blew by analysts

Amazon.com

SEATTLE (AP) -- Amazon.com Inc. posted first-quarter profits Thursday that blew by analysts' estimates and caused the company's stock to jump in extended trading.

Net income in the January-March period came to $130 million, or 28 cents per share. That's down from net income of $201 million, or 44 cents per share, a year ago.

But that was much higher than the 6 cents per share expected by analysts polled by FactSet.

Revenue grew 34 percent to $13.18 billion, also beating the $12.91 billion expected by analysts.

Shares rose $18.01, or 9.2 percent, to $214 in extended trading after the release of results.


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