Online retailer Amazon.com last night reported that its first quarter profit more than doubled compared with the same period last year.
It said net profits were $111m, up from $51m in Q1 last year as net sales grew by 32% to just over $3 billion. North American sales rose by 30%, while international sales were up 35%.
Amazon.com also raised its full-year outlook, saying it expected sales growth of 25-31%. The company also announced a plan to buy back up to $500m in shares within the next two months.
