Amazon profit up

[centsgirl]

Amazon.com Inc. said Thursday that its first quarter profit surged up 68 percent, showing that consumers are even more comfortable opening their wallets to the online retailer as the economy slowly improves. But investors were spooked by Amazon's forecast for the current quarter and its shares now fell 6 percent in extended trading.

Amazon earned $299 million, or 66 cents each share, in the January to March period. That compares with a profit of $177 million, or 41 cents each share, in the year-ago quarter.

For the current quarter, Amazon expects revenue of $6.1 billion to $6.7 billion. That would be an increase of 31 percent to the 44 percent over last year, but it also means Amazon's revenue could fall below analysts' current expectations for $6.43 billion in revenue.

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Profits for online companies like Amazon are going to rise and fall because people are really spooked about spending money still.

Saving money is vital right now to many because well who knows what the future holds for anyone.

Though as the economy does improve and continues to do so, everyone is going to feel more and more comfortable about spending money and these companies which offer the convenience of shopping online are going to see a more steady improvement of profits.