Apr 25, 2019
Amazon posts fourth quarter of record profit
Amazon has posted a fourth successive quarter of record profit. The online retailer and cloud computing provider said net profit more than doubled to $3.56bn, beating analyst estimates. Revenue growth slowed in part because of weaker sales outside the US. Sales rose 17% to $59.7bn. It expects sales growth of 13% to 20% for the next three months. Expenses growth slowed, albeit to a rate of 12.6%. Sales for Amazon Web Services rose 41% to $7.7 billion in the three month period to the end of March. Microsoft has seen its stock market value top $1tn after reporting better-than-expected sales and profits.
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