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Amazon Sales Up 34% in First Quarter of 2012

Amazon has released its earning report for the first quarter of 2012, beating Wall Street estimates. Nevertheless, net income decreased by 35 percent compared to the same period last year.

Here’s more from the release: “Net sales increased 34% to $13.18 billion in the first quarter, compared with $9.86 billion in first quarter 2011 … Net income decreased 35% to $130 million in the first quarter, or $0.28 per diluted share, compared with net income of $201 million, or $0.44 per diluted share, in first quarter 2011.”

Experts had expected the online retailers sales to increase by 31 percent, estimating Amazon would count $12.9 billion in sales. The company also counted “more than 130,000 new, in-copyright books that are exclusive to the Kindle Store.”

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