Amazon Inc. (AMZN) Q1 2016 Earnings: Retailer Turns In A Profit Surprise, Stock Pops 12%

Amazon Inc. (AMZN) is on a roll. The world's biggest online retailer blew away analyst expecations Thursday with a 513 million profit, its fourth straight profitable quarter, sending its stock up nearly 12 percent after hours on the Nasdaq. The profit number for the first quarter of 2016 swung from a net loss of 57 million in the same quarter last year and nearly doubled an estimate of 272.6 million, according to analysts polled by Thomson Reuters. The e-commerce giant posted 29.13 billion in revenue, up by 28 percent from 22.7 billion a year ago, driven by growth in its product sales and cloud computing businesses. Those figures beat analyst expectations of 27.9 billion in revenue.