Amazon shares surged in after-hours trading after reporting stellar first quarter earnings. Net income stood at $1.07 per share, beating estimates of $0.58 and ahead of the $0.12 loss the company posted during the same quarter last year. Meanwhile, revenue came in at $29.13 billion, eclipsing forecasts of almost $28 billion and an increase from the $22.7 billion the company booked in the year ago quarter. Amazon Web Services sales stood at $2.57 billion for the quarter, compared to $1.57 billion last year. The company’s loss in its international segment was slimmer than last year. This quarter, it posted a loss of $121 million, compared to $194 million during first quarter of 2015. Shares of Amazon are down 11 percent since the start of the year. TheStreet’s Scott Gamm reports from Wall Street.
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