Amazon Beats Q1 EPS Estimates Despite Drop In Profit

The eCommerce giant posted revenues of $16.07 billion for the quarter, jumping 22 percent over the same period a year ago and posting earnings per share of $0.18. Wall Street projected $16.1 in revenue for Amazon, but EPS of just $0.08.

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Amazon’s net income dropped 37 percent to $82 million in the quarter, compared to $130 million a year ago: a drop of 37 percent.

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