Amazon.com, Inc. swooped past expectations Thursday evening with its eighth straight quarter of turning a profit: Q1 net income rose 41% to $724 million (or $1.48 per share), handily beating expectations from Thomson Reuters I/B/E/S analysts cited by Reuters for $1.12 per share — a leap over last year’s Q1 net income of $513 million, or $1.07 per share.
Q1 net sales increased 23% to $35.7 billion, compared with $29.1 billion in the same period last year. Excluding the $492 million in unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 24% compared with Q1 2016.
