CE Buoys Amazon Profit
Amazon Thursday reported a 68 percent rise in net income for the first quarter, as the online retail giant's electronics category posted a 72 percent increase to $3.51 billion.
Sales rose 46 percent overall in the quarter, a sign that consumer spending is beginning to rise.
"We remain heads-down focused on customers," Jeff Bezos, founder and CEO of Amazon.com, said as part of the announcement. "Amazon Prime has just celebrated its fifth anniversary, adoption of Amazon Web Services continues to accelerate, Kindle remains our #1 bestselling product, and earlier this week, Kindle selection reached 500,000 titles."