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Amazon earnings: A solid quarter

But once again the company fails to provide any sales figures for the Kindle, and that's of increasing concern with the arrival of the Apple iPad.
Written by Sam Diaz, Inactive on

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.

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