Amazon earnings met expectations, boosted by a 23% rise in sales to $19.7 billion in the first quarter of 2014.
The company logged a profit of $0.23 per share, in line with analyst estimates.
[seealso slug=http://sale-online.click/2013/10/01/future-e-commerece/%5D%3C/p%3E%3Cp%3EAmazon shares rose slightly in after-hours trading but are down 15.8% since the start of 2014.
The positive numbers help provide a financial backstop to a busy quarter for Amazon. The company launched its Fire TV streaming box, signed a deal with HBO to bring older series to its Prime streaming service and is reported to be moving in on the delivery service industry as well as the smartphone market.
Amazon noted in the report that its video streams on Prime tripled over the last year. The company recently announced a major push into original content with six new TV shows.
Revenue growth is a positive sign for the ecommerce behemoth, but its margins remain extremely thin, meaning the company generates very little profit from every sale.
Amazon also scaled back expectations for its second quarter, causing some consternation among financial analysts and journalists.
Amazon earnings summary: huge revenue, tiny profits, bad guidance, stock is up. (RT every 90 days.)
— Kevin Roose (@kevinroose) April 24, 2014