Amazon reported sales for the first quarter on Thursday afternoon, as net income more than doubled, to $1.63 billion, well ahead of analysts’ expectations. The stock is trading near all-time highs on the strong report. Sales of $51 billion were well ahead of the $35.7 billion in the same quarter a year ago. That was bolstered by $4.3 billion from physical stores — primarily the added Whole Foods. The results show fast growth in nearly every segment — their advertising business (+139%), subscription services (+60%), AWS (+49%), and third-party seller services (+44%). The lowest growth was in the basic business […]
