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Friday, February 02, 2018
Amazon Reports Rising Sales and Big Profit


Cloud computing and advertising were the 'strong contributors' to Amazon.com's growth in the fourth quarter, while shoppers threw their money at the e-commerce giant, giving the company a strong fourth-quarter sales growth.

Amazon.com, which has been investing in everything - from warehouses, robots, data centers, gadgets, advertising, entertainment and groceries - maintains its dominance in online shopping and cloud computing.

Chief Financial Officer Brian Olsavsky said Amazon Web Services, the company's profitable cloud-computing unit, and its emerging advertising business were strong contributors to sales growth and earnings. Revenue from AWS increased 45 percent to $5.1 billion, the company said in a statement.

Revenue gained 38 percent to $60.5 billion in the fourth quarter, the biggest increase in a holiday period since a 42 percent jump in 2009. Net income was $1.9 billion -- a record for the company.

Amazon is the e-commerce leader in the U.S. with its $99-a-year Prime subscription, which includes delivery discounts, music and video streaming. The company said it will continue the global expansion of the Amazon Fresh grocery delivery service and Prime Now, a one-hour delivery service, to strengthen Prime membership overseas.


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