The online retailer posted revenue of $19.74 billion for the first quarter, a 22.8% increase from the year-ago quarter. Analysts surveyed by Thomson Reuters expected revenue of $19.42 billion for the quarter.
Amazon reported earning of 23 cents a share for the quarter, missing analysts' expectations of 24 cents a share by 1 cent.
"We get our energy from inventing on behalf of customers, and 2014 is off to a kinetic start," CEO Jeff Bezos said in a press release. "Our device team launched Fire TV, offering great content, including our recently announced exclusive deal with HBO, and innovative features like unified voice search, which we're delighted is being adopted by so many new partners, including Netflix, HBO Go, Hulu Plus, Crackle and Showtime Anytime."
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TheStreet Ratings team rates AMAZON.COM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMAZON.COM INC (AMZN) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and poor profit margins."