TheStreet is live-blogging Amazon's first-quarter results and call with analysts. Please join us!
The Seattle-based company reported sales of $59.7 billion and earnings of $7.09 per share. Analysts were expecting the company to report revenue of $59.7 billion on earnings of just $4.70 per share.
Net income for the period jumped to $3.6 billion from $1.6 billion a year ago, while revenues increased 17%.
The company provided second quarter revenue guidance of between $59.5 billion and $63.5 billion, which at its midpoint is below consensus estimates of $62.4 billion. Amazon also said it expects second-quarter operating income to be $2.6 billion to $3.6 billion, which at its midpoint is below a $4.19 billion consensus estimate, potentially signaling higher-than-expected spending.
The company announced that Fire TV now has more than 30 million active users and that its new Kindle device will retail for $89.99.
Amazon shares are up 1.6% after hours. The stock has gained nearly 30% year to date.
Amazon is a key holding in Jim Cramer's Action Alerts PLUS charitable trust.