The publishing behemoth and electronic commerce company Amazon has reported a profit of $513 million (£351 million) in its first quarter.
The increase has been helped by a 28 percent increase in sales. Sales and profits were higher than analysts expected and Amazon shares shot up by 12 percent in after-hours trading.
The sales figures (which hit $29.1 billion for the three months until the end of March) were helped by sales of Amazon’s Kindle and Fire tablet computers.
The company reported strong growth in the numbers of customers for its Prime service, which includes free delivery and TV shows.
Sales growth was also boosted by Amazon’s could services unit, which rents out data storage space and software services to other companies. The revenue rose 64 percent year-on-year and reached $2.5 billion.
The increase has been helped by a 28 percent increase in sales. Sales and profits were higher than analysts expected and Amazon shares shot up by 12 percent in after-hours trading.
The sales figures (which hit $29.1 billion for the three months until the end of March) were helped by sales of Amazon’s Kindle and Fire tablet computers.
The company reported strong growth in the numbers of customers for its Prime service, which includes free delivery and TV shows.
Sales growth was also boosted by Amazon’s could services unit, which rents out data storage space and software services to other companies. The revenue rose 64 percent year-on-year and reached $2.5 billion.
