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SEATTLE (AP) — SEATTLE (AP) — Amazon.com Inc. (AMZN) on Thursday reported first-quarter net income of $17.13 billion.
The Seattle-based company said it had profit of $1.59 per share.
The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The online retailer posted revenue of $155.67 billion in the period, also topping Street forecasts. Fifteen analysts surveyed by Zacks expected $154.56 billion.
For the current quarter ending in June, Amazon said it expects revenue in the range of $159 billion to $164 billion.
Amazon shares have declined 13% since the beginning of the year, while the S&P's 500 index has decreased slightly more than 4%. In the final minutes of trading on Thursday, shares hit $191.18, a climb of roughly 7% 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