Page last updated at 21:51 GMT, Thursday, 22 April 2010 22:51 UK

Amazon profits up but shares fall

Amazon.com website
Amazon has been viewed as one of the winners of the 2009 Christmas season

Online retailer Amazon reported a 68% rise in net profits for the first quarter of the year to $299m (£194.5m).

Turnover was up by 9% to $2.2bn, while total sales jumped by 46% to $7.13bn - more than expected by analysts.

However its forecast for the April-June period were lower than what investors had hoped, and shares in the firm fell 6% in after-hours trading.

Its Kindle electronic reader has helped sales but it faces a market share battle against Apple's new iPad.

Amazon will start selling the Kindle at some Target stores later this month. It can only currently be bought on the Amazon website.



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Kindle sales boost Amazon profits
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