Amazon profits beat the estimates

Amazon.com posted first-quarter profits today that blew by analysts’ estimates and caused the company’s stock to jump in extended trading.

Net income in the January-March period came to $130 million, or 28 cents per share. That is down from net income of $201 million, or 44 cents per share, a year ago.

But that was much higher than the six cents per share expected by analysts polled by FactSet.

Revenue grew 34% to $13.18 billion, also beating the $12.91 billion expected by analysts.

Shares rose $18.01, or 9.2%, to $214 in extended trading after the release of results.