Amazon Q1 income up 32% on brisk sales

Amazon Q1 income up 32% on brisk sales

Credit: AFP/Getty Images

A picture shows an Ipad with an "Amazon" logo on November 13, 2012 in Paris. French tax authorities have demanded $252 million in back taxes and interest from online retailer Amazon, according to a company document on November 13, 2012.AFP PHOTO / LIONEL BONAVENTURE (Photo credit should read LIONEL BONAVENTURE/AFP/Getty Images)

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by Mike Snider, USA TODAY

NWCN.com

Posted on April 24, 2014 at 1:25 PM

Updated Thursday, Apr 24 at 1:25 PM

Amazon, the giant online retailer that is rapidly expanding into digital media and hardware, said Thursday its first quarter net income rose 32% from a year ago to $108 million as it registered higher sales in all major product lines.

Diluted earnings per share of 0.23 cents matched estimates of analysts queried by Bloomberg.

Net sales increased 23% to $19.74 billion compared to $16.07 billion a year ago.

The stock closed 4% higher at $337.15 Thursday. After the earnings were released after the stock market closed, Amazon shares inched up 0.52% in after-hours trading to $338.89.

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