Thursday, April 23, 2009

Amazon Posts Strong Results

Seattle-based Amazon.com said Thursday afternoon that it earned $177M in the first quarter of 2008, on net sales of $4.89 billion, up from $143M in net income and $4.13 billion in the first quarter of 2008. The firm was hit by unfavorable foreign exchange rates, but Amazon CEO Jeff Bezos said that its Kindle sales have "exceeded our most optimistic expectations." The firm said it expects net sales growth of between 6% and 17% compared with the same period last year, or between $4.30 billion and $4.75 billion.