techkenyot.com
techkenyot.com February 21, 2019


Amazon.com announces 2018 fourth quarter sales

03 February 2019, 02:44 | Hattie Nash

Amazon wage hike pays off as it reveals record profits

Amazon Posts Big Q4 Earnings Beat Weak Q1 Sales Guidance

Overall, net sales for the fourth quarter rose 19.7 per cent to US$72.38-billion and beat the analyst average estimate of US$71.87-billion on the back of a strong holiday season, which includes the major USA shopping event Black Friday. On Thursday, Amazon reported that Amazon Web Services generated $7.4 billion in revenue, up 45 percent year over year.

Shoppers will spend $484 billion globally on Amazon this year, up 26 percent from 2018, and the Seattle-based company will capture more than half of all online spending in the US, according to EMarketer Inc. Though its worldwide operating loss shrunk to $642 million in the quarter from $919 million a year earlier, new regulations in India are poised to take a toll.

The company's subscription services grew 45 percent from a year ago, while advertising revenue almost doubled, to $3.4 billion for the quarter. Fees merchants pay Amazon to ship and advertise their products have fattened the company's once-thin profit margins.

Amazon.com Inc. on Thursday forecast first-quarter sales below Wall Street estimates as new regulations in India created uncertainty around one of its key growth markets, dimming the online retailer's report of record holiday season profit.

Amazon was founded in 1994, when CEO Jeff Bezos started the company in Seattle, with the hope of capitalizing on the early growth in e-commerce sales. On a call with reporters, Olsavsky also said headwinds from foreign currency exchange rates are curbing revenue.

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Investor faith in Amazon's growing profits helped push the stock to a record high in September, before the shares dipped during a broader market slump at year's end.

EPS came in at $6.04 on revenue of $72.4 billion, compared to expectations of $5.65 per share on $71.61 billion in revenue.

Annual net income increased to $10.1 billion United States dollars (roughly $13.26 billion CAD) in 2018, compared to $3.0 billion USD (roughly $3.94 billion CAD) in 2017. After rising by about 3 per cent in after-hours trading, Amazon shares dipped into the red.

Operating income increased to $3.8 billion in the fourth quarter, compared with operating income of $2.1 billion in fourth quarter 2017.

The logo of Amazon is pictured inside the company's office in Bengaluru, India, April 20, 2018.

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Bezos pointed to the Amazon-branded Echo speakers that are at the heart of the new strategy.

In the AVOD space, Amazon subsidiary the Internet Movie Database (IMDb), launched an ad-supported streaming service called Freedive in January. In 2018, Google accounted for 37 percent of digital ad spending in the United States and Facebook accounted for 21 percent, while Amazon took in just 4 percent, according to eMarketer.

Amazon also has been growing its sales from physical stores, including its recently acquired Whole Foods grocery chain.

Boxes in an Amazon fulfillment center.

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