Amazon revenue jumps 18% amid global recession

San Francisco Amazon.com reported that revenue increased 18% despite the sluggish global economy. It posted a 21% sales gain in North America.

CEO Jeff Bezos said sales of the company's Kindle electronic reader had "exceeded our most optimistic expectations."

First-quarter net income rose 24% to $177 million, from $143 million a year earlier, while revenue jumped 18% to $4.89 billion, the company said.

International sales in the quarter rose 15%, but on a currency-neutral basis that figure rose 28%.

Amazon said it expects second-quarter revenue to range between $4.3 billion and $4.75 billion on operating profit of $110 million to $190 million, a decline between 12% and 49%.