Amazon beats Q1 revenue estimates

Amazon.com, the world’s largest internet retailer, beat analysts’ first-quarter revenue estimates, led by demand for Kindle devices and a jump in sales for outside vendors through its website.

Net income fell to $130m, or 28 cents a share, from $201m, or 44 cents, a year earlier, the Seattle-based company said in a statement. Sales rose 34% to $13.2bn, compared with the average analyst estimate of $12.9bn, according to data compiled by Bloomberg.

Chief executive Jeff Bezos is looking to add customers by pouring money into new versions of the Kindle and warehouses that are equipped to send out products faster.