Amazon First-Quarter Earnings Meet Expectations as Revenue Rises

Amazon earnings met expectations, boosted by a 23% rise in sales to $19.7 billion in the first quarter of 2014.

The company logged a profit of $0.23 per share, in line with analyst estimates.

Amazon shares rose slightly in after-hours trading but are down 15.8% since the start of 2014.

The positive numbers help provide a financial backstop to a busy quarter for Amazon. The company launched its Fire TV streaming box, signed a deal with HBO to bring older series to its Prime streaming service and is reported to be moving in on the delivery service industry as well as the smartphone market. Read more...