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AAPL Stock: 110.76 ( + 3.04 )

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Amazon posts 23 percent increase, still not making money

updated 07:14 pm EDT, Thu April 24, 2014

Company expects massive losses in second quarter

Amazon today announced financial results for its first quarter ended March 31. Net sales increased 23 percent to $19.74 billion in the first quarter, compared with $16.07 billion in first quarter of 2013. Net income increased to $108 million in the first quarter, or $0.23 per share, compared with $82 million, in the same time period in 2013.

Operating income decreased 19 percent to $146 million in the first quarter, compared with $181 million in first quarter 2013. Operating cash flow increased 26 percent to $5.35 billion for the trailing twelve months, compared with $4.25 billion for the trailing twelve months that ended in 2013.

For the second quarter of 2014, net sales are expected to be between $18.1 billion and $19.8 billion. The company is expecting a loss of between $455 million and $55 million, compared to $79 million in profit for the second quarter of 2013.




by MacNN Staff

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