Amazon profit tops $3 billion
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Amazon profit tops $3 billion

  • ASSOCIATED PRESS

NEW YORK >> Amazon had another strong holiday season: Its quarterly profit topped $3 billion for the first time as revenue grew across its businesses, including online shopping, advertising and cloud computing.

The Seattle-based company’s estimated revenue for the current quarter, however, was below what Wall Street analysts expected.

Amazon, which recently surpassed Microsoft as the most valuable publicly traded company in the U.S., reported net income of $3.03 billion for the last three months of 2018. On a per share basis, it had net income of $6.04, beating the $5.55 per share analysts expected, according to Zacks Investment Research.

Revenue rose 20 percent to $72.38 billion, beating the $71.73 billion that analysts expected.

For the current quarter ending in April, Amazon said it expects revenue in the range of $56 million to $60 million. Analysts expected revenue of $61.19 billion.

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