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┬ácustomers 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.