Amazon continues to successfully court online shoppers and grow its sales, but still has to figure out how to bolster its bottom line.
The company said its first-quarter net income increased to $108 million, or 23 cents per diluted share, up from $82 million, or 18 cents, a year earlier.
Sales for the quarter ended March 31 climbed 23 percent to $19.74 billion, up from $16.07 billion.
Sales came in slightly ahead of the $19.4 billion analysts projected and the company’s stock inched up 10 cents to $337.25 in after-hours trading.
Observers have long wondered when the company will turn its focus to the bottom line, but Amazon has been steadfast in its push for market share.
“We remain headstrong focused on driving a better customer experience through price, selection and convenience,” said Thomas Szkutak, Amazon chief financial officer, on a conference call with analysts. “We believe putting customers first is the only reliable way to create lasting value for shareholders.”
For the second quarter, Amazon expects net sales to reach between $18.1 billion and $19.8 billion, for growth of 15 percent to 26 percent.