Amazon has seen a boost to to its share price having posted impressive sales and profits that outpace Wall Street expectations for the first quarter of 2017. You can read more about the results here.
Total revenues increased by 23% year on year, clocking in at $35.7bn. Net profits rose to $724m, that’s $1.48 a share. Those figures are up from $513m, $1.07 a share, on the same period last year.
Wall Street forecasts were looking for earnings of $1.08 a share on sales of $35.3bn. So far this year Amazon’s stock has appreciated by 22.5%. And it’s up something like 50% in the past year. Amazon Web Services, the cloud web business that powers lots of big businesses, made $3.67bn, up from $2.57bn in Q116. Profits were up to $890m from $604m.
In the quarterly report Amazon CEO Jeff Bezos singled out India as a key area for growth and development: “Our India team is moving fast and delivering for customers and sellers. The team has increased Prime selection by 75% since launching the program nine months ago, increased fulfillment capacity for sellers by 26% already this year, announced 18 Indian Original TV series, and just last week introduced a Fire TV Stick optimized for Indian customers with integrated voice search in English and Hindi.”
There is no doubt that these are impressive results from Amazon. They continue to seem unstoppable.
One Response
As opposed to Ebay, where sales are only growing slowly and they needed money from increased paid ads and fee hikes to keep the share price from tanking.
Doesn’t seem all that long ago when Ebay and Amazon were level pegging.
Even Paypal now outperforms Ebay.
At what date will Amazon officially take over the world?