Amazon profits beat the estimates

AmazonAmazon.com has posted first-quarter profits 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 dollars (£81.2 million), or 28 cents per share. That is down from net income of 201 million dollars (£125.6 million), or 44 cents per share, a year ago.
But that was much higher than the six cents per share expected by analysts polled by FactSet.

Revenue grew 34% to 13.18 billion dollars (£8.2 billion), also beating the 12.91 billion dollars (£8 billion) expected by analysts.

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

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