EARNINGS REPORT
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Amazon Q1 Profit Spikes
Online retailer sees 30% jump in face of economic slowdown
By Jonas Oransky
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Posted Apr 23, 08 5:35 PM CDT
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(Newser)
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Amazon posted a 30% profit jump in the first quarter, the Wall Street Journal reports, defying the sluggish economy. Net income was $143 million (34 cents a share) compared with $111 million (26 cents a share) in last year's first quarter. The company’s operating income guidance for the fiscal year fell, however—pushing shares sharply downward after hours.