SEATTLE (AP) _ Amazon.com Inc. (AMZN) on Thursday reported first-quarter net income of $2.54 billion.
On a per-share basis, the Seattle-based company said it had profit of $5.01.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $6.36 per share.
The online retailer posted revenue of $75.45 billion in the period, surpassing Street forecasts. Twelve analysts surveyed by Zacks expected $74.36 billion.
For the current quarter ending in July, Amazon said it expects revenue in the range of $75 billion to $81 billion. Analysts surveyed by Zacks had expected revenue of $77.29 billion.
Amazon shares have risen 32% since the beginning of the year, while the Standard & Poor’s 500 index has declined almost 10%. In the final minutes of trading on Thursday, shares hit $2,441.02, an increase of 26% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AMZN at https://www.zacks.com/ap/AMZN
The Associated Press