Amazon earnings: A solid quarter
Amazon on Thursday reported first-quarter earnings that beat Wall Street's estimates, but investors may be concerned about forecasts for the second quarter, sending shares down in after-hours trading.
For the first quarter, the company saw a 68 percent year-over-year gain in net income, which came in at US$299 million, or 66 cents per share, on revenue of US$7.13 billion, a 46 percent jump from the year-ago quarter. Analysts had been expecting earnings per share of 61 cents on sales of US$6.8 billion.
In its statement, the company once again points to Kindle as its "No. 1 bestselling product" but once again fails to provide any sales figures on the device--something that is becoming increasingly relevant with the arrival of the Apple iPad and the expectation that other tablet devices will be landing soon.
Read more of "Amazon earnings: A solid quarter but still no Kindle sales numbers" at ZDNet.