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VOL. 42 | NO. 17 | Friday, April 27, 2018
Amazon profit more than doubles; shares soar
NEW YORK (AP) — Amazon's first-quarter profit more than doubled from a year ago, blowing past Wall Street expectations.
The online retailer's stock, which closed at $1,517.96 on Thursday, soared 6 percent in after-hours trading.
The Seattle-based company reported net income of $1.63 billion, or $3.27 per share, in the three months ending March 31. Its earnings per share were almost triple the $1.24 per share analysts expected, according to FactSet.
Amazon.com Inc. said revenue soared 43 percent to $51 billion, beating the $49.9 billion analysts expected.