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Amazon posts most-profitable quarter; revenue up 28%

Amazon has posted its most profitable quarter ever with first-quarter results of of US$513m (A$669m) on revenue of US$29.1b (A$38b), up from US$57m (A$74m) on US$19.91b (A$26b) in the corresponding period last year, reports the Bookseller. CEO Jeff Bezos said sales were boosted by the company’s own Kindle Fire tablets, saying the devices are ‘the top selling products on Amazon, and customers purchased more than twice as many Fire tablets than first quarter last year’. Amazon’s international segment sales were $9.56b (A$12.5b) for the first quarter, up from $7.75bn (A$10.1b) in the same period last year. CNBC reports it’s Amazon’s fourth straight profit result, with shares rising 10% in extended trading following the posting of results.

 

Category: International news