Amazon.com Inc reported a 38.2 per cent jump in fourth-quarter revenue on Thursday, driven by a surge in online shopping during the holiday season and strong demand for its cloud services.
Amazon, which shipped over 5 billion items worldwide through its subscription-based Prime service in 2017, said its net sales rose to US$60.45 billion in the reported quarter from US$43.74 billion a year earlier.
Net income rose to US$1.86 billion, or US$3.75 per share, in the quarter ended Dec. 31 from US$749 million, or US$1.54 per share, a year earlier.
The results include a tax benefit of about US$789 million related to the new U.S. tax law.
Revenue from Amazon Web Services, the company’s fast-growing cloud services business, surged 44.6 per cent to US$5.11 billion, beating the average estimate of US$5 billion, according Thomson Reuters I/B/E/S.