Friday, April 29, 2016

Amazon surges in Q1; devices, cloud services fuel revenue growth

Amazon.com Inc. swung from loss to profit and significantly boosted net sales during a first quarter that topped analysts expectations.

The world’s largest online retailer reported better-than-expected net income of $513 million, compared to a net loss of $57 million in the first quarter of fiscal 2015.

Net sales also topped forecasts, rising 28% to $29.1 billion from $22.7 billion. . . . more

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