SEATTLE (AP) — SEATTLE (AP) — Amazon.com Inc. (AMZN) on Wednesday reported first-quarter earnings of $30.26 billion.
On a per-share basis, the Seattle-based company said it had profit of $2.78. Earnings, adjusted for investment gains, were $1.56 per share.
The results fell short of Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.60 per share.
The online retailer posted revenue of $181.52 billion in the period, surpassing Street forecasts. Thirteen analysts surveyed by Zacks expected $177.84 billion.
For the current quarter ending in June, Amazon said it expects revenue in the range of $194 billion to $199 billion.
Amazon shares have increased 14% since the beginning of the year, while the S&P’s 500 index has risen 4%. In the final minutes of trading on Wednesday, shares hit $262.23, a climb of 40% 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
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