Business

Market movers

Amazon slips despite increase in revenue

Amazon has been investing to enhance its distribution network, shopping website, and Kindle business.

Sam Mircovich/Reuters/File

Amazon has been investing to enhance its distribution network, shopping website, and Kindle business.

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Amazon.com Inc.’s net income fell in the first quarter even though revenue rose 22 percent, as the online retailer continued to spend heavily on order fulfillment and rights to digital content. The company, which also sells Kindle devices and services, said it earned $82 million, or 18 cents per share, in the period, down 37 percent from $130 million, or 28 cents, a year ago. Revenue rose 22 percent to $16.07 billion, from $13.19 billion. Analysts expected $16.14 billion.

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