Amazon First Quarter Earnings Up 68%

    April 22, 2010
  reported today that its net income for the first quarter increased 68 percent to $299 million, or 66 cents per share, compared with net income of $177 million, or 41 cents per share in the first quarter of 2009.

Analysts expected earnings of 61 cents a share on revenue of $6.87 billion, according to a consensus forecasts from Thomson Reuters.

Jeff-Bezos"We remain heads-down focused on customers," said Jeff Bezos, founder and CEO of

"Amazon Prime has just celebrated its fifth anniversary, adoption of Amazon Web Services continues to accelerate, Kindle remains our #1 bestselling product, and earlier this week, Kindle selection reached 500,000 titles."

Net sales increased 46 percent to $7.13 billion in the first quarter, compared with $4.89 billion for the same period the previous year.

For the second quarter net sales are expected to be between $6.1 billion and $6.7 billion, or to grow between 31 percent and 44 percent compared with the second quarter of 2009.

Operating income is expected to be between $220 million and $320 million, or to grow between 39 percent and 102 percent compared with the same period the previous year.