{"id":1219,"date":"2018-02-01T17:31:26","date_gmt":"2018-02-02T00:31:26","guid":{"rendered":"https:\/\/tradersnation.com\/?p=1219"},"modified":"2018-02-01T17:34:51","modified_gmt":"2018-02-02T00:34:51","slug":"amazon-reports-nearly-2-billion-in-profit-blowing-past-wall-street-expectations-for-holiday-quarter","status":"publish","type":"post","link":"https:\/\/tradersnation.com\/index.php\/2018\/02\/01\/amazon-reports-nearly-2-billion-in-profit-blowing-past-wall-street-expectations-for-holiday-quarter\/","title":{"rendered":"Amazon reports nearly $2 billion in profit, blowing past Wall Street expectations for holiday quarter"},"content":{"rendered":"

by Katie Roof<\/a> (@Katie_Roof<\/a>)<\/span><\/p>\n

Amazon reported quarterly financials after the bell Thursday\u00a0<\/a>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 surveyed by Yahoo Finance were estimating.\u00a0<\/a><\/p>\n

Net income was $1.9 billion for the quarter. For the full 2017 year, it was $3 billion.\u00a0This was partly due to a tax cut that benefited Amazon to the tune of $789 million.<\/p>\n

It\u2019s 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.<\/p>\n

Net sales grew to a massive $60.5 billion, up 38% from the prior year. Analysts had been expecting $59.83 billion.<\/p>\n

Amazon Web Services, the cloud services business, accounted for $5.1 billion in revenue for the quarter. This is up from $3.5 billion in same timeframe the previous year.<\/p>\n

The stock ticked up 3% in initial after-hours trading.<\/p>\n

\u201cOur 2017 projections for Alexa were very optimistic, and we far exceeded them. We don\u2019t see positive surprises of this magnitude very often \u2014 expect us to double down,\u201d said\u00a0Jeff Bezos,\u00a0Amazon\u00a0founder and CEO, in a statement.<\/p>\n

The company also touted the success of its Prime membership, saying that the service accounted for 5 billion items shipped last year.<\/p>\n

Amazon has a market cap of $677 billion and recently reached record highs.<\/p>\n

\n

 <\/p>\n

Original story https:\/\/techcrunch.com\/2018\/02\/01\/amazon-blows-past-wall-street-expectations-for-holiday-quarter<\/a><\/p>\n

\"KatieKatie Roof is a senior writer and video host at TechCrunch. She has an interest in late stage venture capital, and is especially enthusiastic about commerce, social media and apps. Previously, Roof was a tech reporter for FOXBusiness.com and has been a contributor at Reuters, TheStreet and Forbes. She has held television production roles at CNN and Bloomberg TV.<\/div>\n
<\/div>\n

Featured Image: Drew Angerer<\/a>\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

by Katie Roof (@Katie_Roof) Amazon reported quarterly financials after the bell Thursday\u00a0for 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 surveyed by Yahoo Finance were estimating.\u00a0 Net […]<\/p>\n","protected":false},"author":6,"featured_media":1220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,99],"tags":[174,184,185],"class_list":{"0":"post-1219","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-retail","9":"tag-amazon","10":"tag-earning","11":"tag-profits"},"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/posts\/1219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/comments?post=1219"}],"version-history":[{"count":0,"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/posts\/1219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/media\/1220"}],"wp:attachment":[{"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/media?parent=1219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/categories?post=1219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradersnation.com\/index.php\/wp-json\/wp\/v2\/tags?post=1219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}