Amazon.com grew its revenue in its first quarter, which ended March 31, but its net income fell, as the e-commerce giant faced higher operating expenses compared with the same quarter last year, the company announced Tuesday.Revenue came in at US$2.28 billion, up 20 percent and exceeding the consensus expectation of $2.23 billion from analysts polled by Thomson Financial.Net income was $51 million, or $0.12 per share, matching analysts’ consensus expectation, but down from $78 million, or $0.18 per share, in 2005’s first quarter.Operating expenses grew to $441 million, including a significant jump in technology and content spending, from $350 million, the company said. Looking ahead, Amazon.com expects revenue in the second quarter in the range of $2.03 billion and $2.18 billion, up between 16 percent and 24 percent compared with 2005’s second quarter. For the full year, the company is forecasting revenue in the range of $9.95 billion to $10.5 billion, up between 17 percent and 24 percent.Amazon.com warned that its operating profit for the year could be negatively impacted by as much as $50 million if it doesn’t prevail in its appeal of a recent court ruling that let Toysrus.com end a contract between the companies. -Juan Carlos Perez, IDG News ServiceFor related news coverage, read Amazon, InPhonic Team Up to Offer Cell Phones, Service Plans.Check out our CIO News Alerts and Tech Informer pages for more updated news coverage. Related content brandpost Sponsored by AWS in collaboration with IBM How digital twin technology is changing complex industrial processes forever As the use cases for digital twins proliferate, it is becoming clear that data-driven enterprises with a track record of innovation stand the best chance of success. By Laura McEwan Dec 05, 2023 4 mins Digital Transformation brandpost Sponsored by AWS in collaboration with IBM Why modernising applications needs to be a ‘must’ for businesses seeking growth Around one-third of enterprises are spending heavily on application modernisation and aiming for cloud native status. The implications for corporate culture, structure and priorities will be profound. By Laura McEwan Dec 05, 2023 5 mins Digital Transformation opinion 11 ways to reduce your IT costs now Reorienting IT’s budget toward future opportunities is a big reason why CIOs should review their IT portfolios with an eye toward curbing unnecessary spending and realizing maximum value from every IT investment. By Stephanie Overby Dec 05, 2023 11 mins Budget Cloud Management IT Governance news analysis SAP faces breakdown in trust over innovation plans The company’s plan to offer future innovations in S/4HANA only to subscribers of its Rise with SAP offering is alienating customers, user conference hears. By Peter Sayer Dec 05, 2023 6 mins SAP Cloud Management Innovation Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe