Shares of Amazon jump on 1Q earnings beat

SEATTLE – Shares of Inc. surged Thursday after the e-commerce powerhouse reported better-than-expected first-quarter results fueled by a 28 per cent jump in revenue.

The Seattle-based company’s net income totalled $513 million, or $1.07 per share, compared with a loss in the same period a year earlier. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

In a statement, CEO Jeff Bezos said sales of Amazon devices...

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