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Biggest profit of Amazon's history
(MENAFN) Amazon.com has reported its largest profit in its history with a about USD2 billion, as it drew millions of new customers to its Prime fast-shipping club for the holiday season and as changes to US tax law added to its bottom line.
Shares have increased over 6 percent in extended trading, after closing down 4 percent earlier on the Nasdaq.
According to the company, net income more than doubled to USD1.86 billion, in the fourth quarter of 2017, as its profit received a provisional USD789 million boost from the US Republican tax bill passed in December.
GBH Insights analyst Daniel Ives said: "This was another blow-out quarter for Amazon, the retail strength was eye-popping as the company had a banner holiday season and looked to capture roughly 50 per cent of all e-commerce holiday season sales."
Shares have increased over 6 percent in extended trading, after closing down 4 percent earlier on the Nasdaq.
According to the company, net income more than doubled to USD1.86 billion, in the fourth quarter of 2017, as its profit received a provisional USD789 million boost from the US Republican tax bill passed in December.
GBH Insights analyst Daniel Ives said: "This was another blow-out quarter for Amazon, the retail strength was eye-popping as the company had a banner holiday season and looked to capture roughly 50 per cent of all e-commerce holiday season sales."
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