Why Amazon Wants To Do Everything

Updated from 4:18 p.m. to include comments from the conference call and updated share price.

NEW YORK (TheStreet) -- Shares of Amazon (AMZN) were flat after the e-commerce giant posted results that were better than expected, as the company continues to be all things to all consumers.

For the first-quarter, Amazon earned 23 cents a share on $19.74 billion in revenue, as net sales increased 23% year-over-year. The company noted a $10 million favorable impact from foreign currency throughout the quarter.

Operating income decreased 19% to $146 million in the first-quarter, compared with $181 million in first quarter 2013, as the company continues to invest in its businesses. On the conference call, Amazon noted unit growth rose 23% versus 25% last quarter, while third-party (3P) unit growth was 23%, compared to 25% last quarter.

Analysts surveyed by Thomson Reuters were expecting Amazon to earn 23 cents a share on $19.4 billion in revenue for the quarter. Analysts surveyed by Estimize were expecting Amazon to earn 25 cents a share on $19.63 billion in sales.

After the recent price increase on Amazon Prime, Amazon said it was encouraged by what it's seen so far on Prime, noting that subscribers were growing week-over-week, after the price increase, but that it was still very early. Amazon raised the price of Prime in mid-March to $99 a year, up from $79 a year.


WATCH: More market update videos on TheStreet TV | More videos from Kori Hale

If you liked this article you might like

Amazon Teams With Food Delivery Service to Launch Amazon Restaurants

LA Times Tops 100,000 in Digital Subscriptions

The 10 Craziest Pumpkin Spice Items You Can Buy off Amazon

The 12 Most Ridiculous Kitchen Appliances You Can Buy From Amazon