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Online retail giant Amazon's quarterly revenue surges 28 percent

Reuters

(Reuters) - Online retail giant Amazon.com Inc's quarterly revenue surged 28.2 percent as its Prime loyalty program helped attract more customers and revenue jumped in its cloud services business. Amazon, the world's biggest online retailer, reported net income of $513 million, or $1.07 per share, for the first quarter ended March 31. The company had a loss of $57 million, or 12 cents per share, a year earlier. Net sales rose to $29.13 billion from $22.72 billion. (Reporting by Narottam Medhora in Bengaluru; Editing by Kirti Pandey)