Amazon shares surged after their earnings call last night. The 1st quarter’s total sales amounted to $13.2 billion compared to last year’s $9.9 billion. In 2009 Amazon’s total sales were only $4.9 billion for the 1st quarter. The 1st quarter numbers were led by Kindle sales.
Even with the company investing aggressively in new shipping centers, data centers, online content, and its new line of Kindles, they still managed to beat the analyst expectations on profits with 28 cents/share vs. the expectation of 7 cents/share (Thomson Reuters).
Interestingly the headcount at the online retail giant increased 73% from this time last year, to 65,600 employees! …talk about expanding.