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Amazon: 1Q Earnings Snapshot

Last Updated Apr 30, 2020 at 1:20 pm PDT

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.

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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