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.
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