Amazon's Q1 2012 earnings: net income down 35 percent to $130 million, net sales at $13.18 billion (Engadget)

It's no Apple-sized quarter, but you'd need to be on HGTV's _Million Dollar Rooms_ a handful of times over to scoff at Amazon's Q1 2012 earnings. After reporting $177 million in net earnings last quarter (on $17.43 billion in revenue), the online sales behemoth has today registered $13.18 billion in net sales -- proudly reporting that said tally was _up_ from the $9.86 billion in its Q1 a year ago. Excluding the $56 million unfavorable impact from year- over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 34 percent compared with first quarter 2011. As for operating income? That checked in at $192 million (compared to $322 million Q1 2011), with the outfit noting that the "unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $4 million." Net income also sank 35 percent from $201 million a year ago, but it still left Amazon with $130 million more in the bank than it had just three months ago. It's important to note that the outfit didn't have "the holidays" here to help out, but it's still a bit worrisome to investors when profit ...

Engadget