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Amazon First-Quarter Revenue Tops Estimates on Kindle

Amazon.com Inc., the world’s largest Internet retailer, rose after it beat analysts’ first-quarter revenue and earnings estimates on buoyant demand for Kindle devices and e-commerce services for outside vendors.

The shares climbed the most in more than two years. Net income was $130 million, or 28 cents a share, compared with $201 million, or 44 cents, a year earlier, the company said in a statement late yesterday. Sales rose 34 percent to $13.2 billion. Analysts on average estimated earnings of 7 cents on sales of $12.9 billion, according to data compiled by Bloomberg.