Amazon earnings beat the Street, turns focus on original TV programming

Amazon (s AMZN) beat analysts’ forecasts Thursday afternoon with its Q1 earnings report. Earnings were $0.18 per share, or $82 million, on revenue of $16.07 billion, compared to earnings of $0.28 per share, or $130 million, on revenue of $13.18 billion this time last year.

Analysts had expected earnings of $0.07 per share on revenue of $16.1 billion.

Operating income, considered by investors to be a key measure of the company’s financial health, was $181 million, down 6 percent from the previous year. Still, that figure beat the range of -$285 million to $65 million that the company had provided in the previous quarter.

Amazon is reportedly working on a set-top box, and in the release, CEO Jeff Bezos highlighted Amazon’s expansion into original television, focusing on the company’s recent release of 14 original pilots. “Our customers will determine what goes into full-season production,” he said. “We hope Amazon Originals can become yet another way for us to create value for Prime members.”

North American media revenues totaled $2.51 billion for the quarter, up 14.4 percent over last year. International media revenues were $2.54 billion, up just 1.27 percent.

For the second quarter of 2013, Amazon advises investors to inspect revenues between $14.5 billion and $16.2 billion, with broad guidance on operating income ranging from -$340 million to $10 million.

Amazon is holding an investor call at 2:00 PM PT, and we will be on the call.

This post was updated several times on Thursday afternoon.