Amazon profit jumps on strong sales, beats expectations

ByUSA Today
April 23, 2009, 10:32 PM

NEW YORK -- AMZN 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 said Thursday that earnings climbed to $177 million, or 41 cents a share, in the first quarter.

That's 24% higher than the profit of $143 million, or 34 cents a share, in the year-ago quarter. And it beats the 31 cents a share analysts polled by Thomson Reuters expected.

The company says revenue rose 18% 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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