SEATTLE — Amazon.com reported Tuesday a sharp drop in first-quarter earnings despite sales that came in above Wall Street’s expectations.

For the first quarter ended March 31, Amazon reported earnings of $201 million, or 44 cents a share, compared to earnings of $299 million, or 66 cents a share, for the same period last year. Revenue jumped 38 percent to $9.86 billion.

Analysts were expecting earnings of 61 cents a share on revenue of $9.54 billion, according to consensus forecasts from FactSet Research.

For the second quarter, the company predicted operating earnings to come in between $95 million and $245 million. On average analysts are expecting $356.4 million for the period.

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