Amazon was the big winner in Q4 – What’s new?
News you want to use week 6.
Amazon reported quarterly financials for its fourth quarter, the all-important holiday season for the e-commerce giant. And its numbers had some people doing a double take, after earnings per share came in at $3.75, more than double the $1.85 that analysts were estimating. Net income was $1.9 billion for the quarter. For the full 2017 year, it was $3 billion. This was partly due to a tax cut that benefited Amazon to the tune of $789 million. It’s a far cry from the days when Amazon was unprofitable. For years, Amazon was able to get away with convincing investors that they should bet on its future growth. Net sales grew to a massive $60.5 billion, up 38% from the prior year. Analysts had been expecting $59.83 billion.
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