Amazon enjoys best ever year with record profits and sales

Amazon enjoys best ever year with record profits and sales

After all, as an early Christmas present, he signed the tax-overhaul bill that slashed the corporate tax rate to 21 per cent (from 35 per cent).

Amazon posted revenue of $60.5 billion, up 38 percent, from a year ago.

Inc. reported on Thursday a profit of nearly $2 billion, its largest in history, as the e-commerce giant attracted millions of new Prime customers during the holiday season and as changes in the tax law across the US added to the bottom line. As a result, EPS for the quarter stood at $3.75, much higher than the consensus expectation of around $1.75.

That figure will likely increase during this quarter partly due because Amazon recently increased month to month fees for Prime plans affecting approximately 30% of its subscribers.

The Seattle-based company was helped by the strong growth of Prime, and in 2017 alone, more than five billion items were shipped with Prime worldwide.

While Amazon offered only limited details on the reasons for growth, Bezos said a big factor was Alexa - the name given to the artificial intelligence program powering its speakers and adopted by makers of cars, appliances and other connected devices. Millions of Amazon customers ordered goods by voice with Alexa in the past year.

"Our projections for Alexa were very optimistic and we far exceeded them", the CEO said in a statement.

Vaping too causes cancer, says study
They pointed out that e-cigarettes were rapidly gaining popularity, especially among young people who regard them as harmless. There are still some questions about long-term safety, as e-cigarettes haven't been around that long.

Amazon on Thursday reported its profits had more than doubled in the past quarter as company founder Jeff Bezos heaped praise on the performance of its Alexa digital assistant.

Earnings per share (GAAP, not accounting for impact of tax reform): $1.83; Amazon earned $1.54 a share in the fourth quarter past year.

Speaking on the company's fourth quarter earnings call, chief financial officer Brian Olsavsky said that the company was benefiting from its video investments. "The retail strength was eye-popping as the company had a banner holiday season and looked to capture roughly 50 percent of all e-commerce holiday season sales". Amazon has also inked deals with several appliance manufacturers and even auto companies to feature Alexa integrations in their products.

But in India, Flipkart remains the poster child for e-tailing. Cloud computing has become among the largest segments of the tech industry, and it has been essential to the growth of other companies, particularly Microsoft and struggling IBM.

Amazon founder Jeff Bezos has committed investments to the tune of Dollars 5 billion for the Indian market. Whole Foods' revenue from late 2016 was $3.5 billion.

Analysts were expecting US$1.5 billion, analytics firm FactSet Research Systems Inc said.

Related Articles

  • Just How Bad Is This Flu Season? Experts Weigh In

    Just How Bad Is This Flu Season? Experts Weigh In

    To stay well, wash your hands , cover your cough, and avoid touching your face, which is how the virus can get into your body. Gale Burstein also has said that it is not too late to receive a flu vaccine, as flu seasons are highly unpredictable.
    Studies said to expose humans, monkeys to toxic vehicle  fumes

    Studies said to expose humans, monkeys to toxic vehicle fumes

    Europe led the ban on cosmetics tested on animals which affected United States makers where no ban on animal testing exists. The industry has had to fend off calls for diesel bans in German cities with high pollution levels.
    NSW commuters offered real-time services info via Amazon Alexa

    NSW commuters offered real-time services info via Amazon Alexa

    Still, now you can simply say, " Alexa send a text message to dad" and it will do so, using your Android phone as a conduit. Sending SMS feature doesn't work with third-party Alexa devices at this moment, but that could change in the future.
  • U.S.  names Hamas leader as terrorist

    U.S. names Hamas leader as terrorist

    Days of sometimes violent demonstrations in the Palestinian territories and other parts of the Middle East ensued. State Department said Haniyeh "has reportedly been involved in terrorist attacks against Israeli citizens".

    Irish health minister defends abortion ban referendum

    Ms O'Reilly had noted the call for a fact-based campaign and said, "We have all stated that we will rely on the facts". Two decades later, a woman's death in a public hospital created a new groundswell of support for change .
    Trump calls North Korean leadership

    Trump calls North Korean leadership "depraved" and threatening

    In that year, a South Korean tourist was shot dead by a North Korean soldier, apparently for wandering into an off-limits area. Trump will discuss the North Korean nuclear crisis in a "strong and serious way " a source told CNN's Jim Acosta .
  • Chiefs trade QB Smith to Redskins, saving $17 million

    Chiefs trade QB Smith to Redskins, saving $17 million

    Washington's blockbuster trade for Alex Smith quickly became an out-of-nowhere, heat-seeking talking point during Super Bowl Week. Signs have pointed for some time that the Chiefs would trade Smith, their starting quarterback since he was acquired in 2013.
    Quiksilver CEO missing after his empty boat washes up on French beach

    Quiksilver CEO missing after his empty boat washes up on French beach

    According to the World Surf League, Agnes left Capbreton Harbor at 7.30am on Tuesday and his boat was found two hours later. His disappearance caused consternation in the surfing community around the world.
    Benjamin Netanyahu heads to Moscow to warn about Iran in Lebanon

    Benjamin Netanyahu heads to Moscow to warn about Iran in Lebanon

    Visitors to the former Nazi death camp Sobibor, in eastern Poland, wander through the recently excavated remains of the gas chambers on November 11, 2014.
  • Michelle Obama to frightened Americans: 'All we have is hope'

    Michelle Obama to frightened Americans: 'All we have is hope'

    Michelle Obama has offered a message of hope to Americans anxious by a dark political climate, making an appeal to common decency. Inside, there was a box of wine, a Barack Obama chia pet, the fiber supplement Metamucil, and a device that helps with pushups.
    Blow for Arsenal as Wenger reveals Aubameyang illness

    Blow for Arsenal as Wenger reveals Aubameyang illness

    Wenger also tasked Mesut Ozil to take on the leadership role in the team following he exit of Alexis Sanchez. It will be fascinating to see how this new-look Arsenal team lines up against Everton.
    Shopian killing: Army files its version

    Shopian killing: Army files its version

    The police on Wednesday incorporated the army's version in the FIR in which it said the firing was in self-defence. Seven army men including Junior Commissioned Officer (JCO) were injured in the stone pelting on their convoy.