Amazon Droops Following Profit-Light Q1 Report

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The market digested the earnings report Amazon released on Thursday, and toward the end of trading Friday it was clear investors were less than pleased, with the company’s stock down by about 6.5 percent. Little wonder: Amazon reported that its net income decreased 37 percent to $82 million in the first quarter, compared with $130 million in the first quarter of 2012. There was some good news in the report. The company’s first quarter sales were up 22 percent year over year, reaching $16.07 billion.

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