Amazon reported first-quarter earnings after the bell on Thursday. The company shattered earnings expectations, reporting $1.48 per share, when Wall Street was expecting $1.12. Net income stood at $724 million.

amazon box logo stock 1020.0 Amazon blows past earnings expectations   TechCrunch

Revenue came in at $35.71 billion, above the $35.30 billion that analysts were forecasting and up 23 percent from last year. Shares quickly soared 5 percent in initial after-hours trading.

However, operating income declined 6 percent to $1 billion for the quarter. Investors had been hoping to see operating margin expansion in North America…more

gettyimages 649082988 Amazon blows past earnings expectations   TechCrunch
WASHINGTON, DC – MARCH 07: Jeff Bezos, CEO of Amazon and founder of Blue Origin, is introduced to speak at the Access Intelligence’s SATELLITE 2017 conference at the Washington Convention center on March 7, 2017 in Washington, DC. Bezos talked about the future plans of Blue Origin and the innovation of the satellite and space communities. (Photo by Mark Wilson/Getty Images)

Source: TechCrunch

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