Web retailer Amazon.com said today that its first-quarter profit rose 29 percent, helped by solid sales in the U.S. and abroad. But weak guidance for...
SEATTLE — Web retailer Amazon.com said today that its first-quarter profit rose 29 percent, helped by solid sales in the U.S. and abroad.
But weak guidance for the full fiscal year pushed shares down $4.33, or 5.4 percent, to $76.67 in after-hours trading. The stock had closed up $1.40 at $81.
Quarterly earnings climbed to $143 million, or 34 cents per share, from $111 million, or 26 cents per share, in the same period last year.
Those results beat Wall Street’s expectations. Analysts surveyed by Thomson Financial had forecast a profit of 32 cents per share.
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Revenue increased 37 percent to $4.14 billion from $3.02 billion in the year-ago quarter.
Sales in North America rose 31 percent to $2.13 billion from a year ago. International sales grew 44 percent to $2.01 billion, and accounted for 49 percent of total revenue, up from 46 percent last year.
Amazon said it expects sales between $3.86 billion and $4.08 billion for the current second quarter. Analysts are looking for $3.84 billion.
For the year, the retailer forecast $19.1 billion to $20.0 billion in revenue, close to Wall Street’s current outlook for $19.29 billion.