by Karl Utermohlen | April 24, 2014 7:22 pm
Amazon (AMZN) reported its first-quarter earnings for the fiscal year and the company met expectations.
The online retailer reported $0.23 earnings per share which were right in line with analysts’ expectations. Amazon’s revenue was up 22.8% from a year ago to $19.74 billion, slightly exceeding Wall Street’s estimates of $19.43.
Part of Amazon’s success last quarter can be attributed to the company’s expansion of the Prime Instant Video. “Video streams on Prime Instant Video nearly tripled year over year,” the company said.
AMZN stock is up 3.87% on Thursday. The company’s shares have been gaining in after-hours trading with Amazon stock up 0.11% since closing.
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