Amazon 1Q profit, revenue jump on strong sales
(AP) -- Amazon.com says first-quarter earnings and revenue climbed thanks to strong sales of products such as books, DVDs and electronics.
The results are higher than analyst expectations and indicate that the online retailer is faring well despite the ongoing recession.
Seattle-based Amazon.com Inc. said Thursday that earnings climbed to $177 million, or 41 cents per share, in the first quarter.
That's 24 percent higher than the profit of $143 million, or 34 cents per share, in the year-ago quarter. And it beats the 31 cents per share analysts polled by Thomson Reuters expected.
The company says revenue rose 18 percent to $4.89 billion, slightly higher than analysts' expectations of $4.76 billion.
Amazon expects second-quarter sales of $4.3 billion to $4.75 billion. Analysts have predicted $4.6 billion - within that range.
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