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Amazon Q1 Profit Spikes

Online retailer sees 30% jump in face of economic slowdown

By Jonas Oransky, Newser Staff

Posted Apr 23, 2008 5:35 PM CDT

(Newser) – 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.

Jeff Bezos, founder and CEO of Amazon.com. (AP Photo/Mark Lennihan)

Amazon Fresh is a new grocery delivery service being tested by Amazon.com. (AP Photo/Joe Nicholson)

Jeff Bezos, founder and CEO of Amazon.com, introduces the Kindle. (AP Photo/Mark Lennihan)

Jeff Bezos, founder and CEO of Amazon.com. (AP Photo/Mark Lennihan)

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Amazon Q1 Profit Spikes

Online retailer sees 30% jump in face of economic slowdown

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Amazon Prime Scores More TV With Viacom Deal

Instant Video selections streamed for free by Prime members

James Franco Sells Book Straight to Amazon

Yet another occupation for busy actor

15 Worst Gifts on Amazon

Includes wolf urine, ladybugs, and uranium ore

Amazon's Best-Selling Book of the Year Is...

'Steve Jobs ': impressive, considering it was released in October

Amazon Loses Money Every Time a Kindle Fire Is Sold

...and it's totally OK with that

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OTHER STORIES ON OUR RADAR

Jeff Bezos • weak dollar • quarterly profits • Amazon.com

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Amazon Prime Scores More TV With Viacom Deal

Instant Video selections streamed for free by Prime members

James Franco Sells Book Straight to Amazon

Yet another occupation for busy actor

15 Worst Gifts on Amazon

Includes wolf urine, ladybugs, and uranium ore

Amazon's Best-Selling Book of the Year Is...

'Steve Jobs ': impressive, considering it was released in October

Amazon Loses Money Every Time a Kindle Fire Is Sold

...and it's totally OK with that

About Us

Site

Newser By Users

Community

Site Maps

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More News

What is Newser?