• April 26, 2013

Amazon says its first-quarter sales climbed 22% to $16.07 billion, compared with $13.18 billion in first quarter 2012, while net income fell 37% to $82 million, from $130 million in the year ago period. Still, the company, which has been spending mightily on such growth avenues as the Kindle Fire, topped investor expectations. It says it expects second quarter sales to be between $14.5 billion and $16.2 billion, representing growth of between or 13% and 26%, compared with second quarter of last year. It predicts its operating income (loss) will be between $(340) million and $10 million, compared to $107 million in the year-ago period.