Amazon doubled its profit in the first three months of 2019
Amazon.com Inc. doubled its profit in the first three months of 2019, but will shave into its growing earnings in order to chop the delivery time for Prime customers in half.
Amazon offers one-day delivery on some products now, and even same-day delivery for some purchases. But Olsavsky said Amazon now expects that the standard free two-day shipping that is the biggest selling point for the Prime subscription plan will be improved to a one-day schedule. Amazon reported first-quarter profit of $3.6 billion, or $7.09 a share, on sales of $59.7 billion, up from earnings of $3.27 a share a year ago on revenue of $51 billion. That is record quarterly net income for the internet giant, which recorded revenue just slightly higher than $3 billion in the 2018 holiday-shopping period, the previous record. Amazon now produced record revenue totals in four consecutive quarters, bringing in about $12 billion in earnings in that time.
Operating profit of about $2.2 billion from the e-commerce business is what produced the big earnings beat, as analysts’ estimates called for domestic operating profit of $1.52 billion and an international loss of $605 million. The $90 million loss on international operations is the closest Amazon has come to producing a profit in that segment since doing so in the second quarter of 2016; Amazon had an operating loss of more than $2.1 billion in the international e-commerce business in 2018.
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