Amazon reported better than expected results for the three months ended March 31. Sales rocketed 34% to $13.18bn (£8.1bn), driven by strong sales of Kindle products and digital media. Net income declined 35% to $130m (£80m) compared with $201m (£123m) in the same period last year as it invested in technology and infrastructure.

In North America, Amazon increased operating income 20% to $349m (£214.8m).

Net sales jumped 36% to $7.43bn (£4.57bn).

In its international markets it recorded a 72% decrease in operating income to $49m (£30.1m) as it invested in newer operations in Italy, Spain, China and India. International sales rose 31% to $5.76bn (£3.54bn).