The Latest: Amazon Prime to be 1-day shipping instead of 2

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NEW YORK (AP) — The Latest on Amazon’s first quarter earnings (all times local):

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6:00 p.m.

Amazon says its free shipping for Prime members will be even faster, promising one-day shipping on most items instead of two-day delivery.

The company didn’t say when the change would happen, but says it has been growing its warehouses and shipping network to offer faster deliveries.

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Amazon has long offered delivery in a day or quicker for some items, but the change will mean free one-day shipping will be the default, rather than two-day.

The move is likely to put even more pressure on big retailers, which have been racing to ship faster to catch up with Amazon.

Amazon says it will offer one-day shipping to its Prime members around the world.

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4:30 p.m.

Amazon’s push into advertising and cloud computing is paying off, helping the online shopping giant’s first quarter profit more than double from a year ago.

The Seattle-based company on Thursday reported net income of $3.56 billion, or $7.09 per share, for the first three months of the year.

That beat expectations of $4.61 per share, according to Zacks Investment Research. In the same time a year ago, it reported net income of $1.63 billion, or $3.27 per share.

Revenue rose 17% to $59.7 billion, which also beat Wall Street expectations.

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