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April 26, 2013

Amazon revenues up 22%

NEW YORK (AP) — Amazon.com Inc.'s net income declined in the first three months of the year even though revenue increased 22 percent, as the online retailer continued to spend heavily on order fulfillment and rights to digital content.

Amazon, the world's largest online retailer and the seller of Kindle devices and services, said Thursday that it earned $82 million, or 18 cents per share, in the first quarter. That's down 37 percent from $130 million, or 28 cents per share, in the same period a year earlier. But it's higher than the 7 cents expected by analysts polled by FactSet.


 
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