Amazon.com Inc. (NASDAQ: AMZN) reported late Tuesday that its first-quarter earnings declined to $201 million, or 44 cents a share, from a profit of $299 million, or 66 cents a share, in the year-earlier quarter. Revenue jumped 38% to $9.86 billion from $7.13 billion in the first quarter of 2010. Analysts, on average, expected the company to report earnings of 61 cents per share on revenue of $9.52 billion.
"In the last 90 days, we announced Kindle with Special Offers, Kindle Library Lending, Audible audiobooks on Kindle, Appstore for Android, Amazon for Windows Phone 7, Checkout by Amazon in both Germany and the U.K., a Kindle Store in Germany, Cloud Drive, Cloud Player, and Prime Instant Video -- just to call out a few of the things we've been working on," said Jeff Bezos, founder and CEO of Amazon.com. "We love inventing on behalf of customers and have never been more excited about the long-term opportunities."
Amazon shares slumped more than 3% in after-hours trading
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