Holidays lift Amazon to record profit
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Hey there, time traveller!
This article was published 02/02/2018 (2806 days ago), so information in it may no longer be current.
SEATTLE — The holiday shopping season gave Amazon the gift of a record profit, with the retail juggernaut posting US$1.9 billion in net income during the final three months of 2017.
Amazon’s stock climbed in after-hours trading following the earnings report Thursday. The results easily surpassed Wall Street analysts’ expectations.
The Seattle company posted a profit of US$3.75 a share, above the US$1.84 a share analysts had expected, according to S&P Global Market Intelligence.
Amazon’s North American retail sales surged 42 per cent from the prior year.
The company also reported a jump in that segment’s profitability. Operating margin in North America widened to 4.5 per cent from 3.1 per cent during the same period a year earlier. For the full year, Amazon pulled in US$177.9 billion in revenue, up 31 per cent from 2016, and US$3 billion in net income.
Amazon shares traded up 4.7 per cent at US$1,457 in early after-hours trading Thursday. The stock had closed regular trading down 4.2 per cent at US$1,390.