Amazon impresses with largest profit in its history


Unstoppable Amazon turned in another strong quarter, leaving its rivals in the dust during the crucial holiday shopping season.

Revenue in the fourth quarter rose 38 percent, to $60.5 billion, while the Seattle behemoth reported record profits of $2 billion.

Amazon shares were up more than 6 percent, to $1,476, in after-hours trading.

Amazon Founder and Chief Executive Jeff Bezos, with the after-hours stock bump, saw his world-leading net worth jump to a staggering $128.6 billion.

Bezos said Alexa was one of the key drivers of the company’s success.

“Our projections for Alexa were very optimistic and we far exceeded them,” the CEO said in a statement. “We don’t see positive surprises of this magnitude very often — expect us to double down.”

Amazon’s results also beat Wall Street’s forecast for revenue of $59.83 billion.

Despite reports last year that Amazon Prime’s growth in the US may be hitting a wall, Amazon said that it gained more members in 2017 — in both the US and worldwide — than in any other year.

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