Amazon.com reported first-quarter revenue and profit that topped analysts' estimates, driven by sustained growth in online retail sales and its profitable cloud business, sending its shares up more than 4 per cent in extended trading on Thursday.
The world's biggest online retailer said net income rose to $US724 million , or $US1.48 per share, from $US513 million, or $US1.07 per share, a year earlier. This marks the eighth straight quarter Amazon has posted a net profit.
Already trading at near record-levels, Amazon shares jumped around 5 per cent in after hours trading.
Analysts on average had expected a profit of $US1.12 per share, according to Thomson Reuters I/B/E/S.
The company's total net sales rose 22.6 per cent to $US35.71 billion in the quarter ended March 31, compared with the average analyst estimate of $US35.30 billion.
Revenue from Amazon Web Services, the company's fast-growing cloud services business, rose 42.7 per cent to $US3.66 billion, matching the average analyst estimate, according to market research firm FactSet StreetAccount.
Amazon's net sales in North America, its biggest market, jumped 23.5 per cent to $US20.99 billion in the latest quarter.
The company said a stronger dollar impacted its overall sales by $US492 million and that the quarter faced tough comparison with the year-ago quarter, when the Feb. 29 leap day gave shoppers an extra 24 hours to spend.
Reuters