Amazon revenue up but offset by increasing expenses

Published on: 25th April 2014

Internet retailer Amazon reported a 32% jump in profits to $108m (£64m) in the first quarter of 2014.

The firm said strong sales, which increased by 23% to $19.74b, helped contribute to the profit growth. “2014 is off to a kinetic start,” said Amazon founder and chief executive Jeff Bezos in a statement. However, investors were disappointed by increasing expenses (which rose 23% from a year earlier) and ate into profits.

Shares in Amazon were mostly flat in after-hours trading. Overall, shares in the firm have declined by more than 15% this year.

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