Money-maker Amazon's profit more than doubles in three months
26 April, 2019, 10:26
There is not now a set date for the launch, but Olsavsky said "it will take us a significant amount of time to achieve". Its growth, he said, is "a testament to a growing market but also AWS sustained competitiveness with cost-saving downshifting features, a multitude of compute, storage, networking and database options, and winning in core areas of machine learning". "We expect to make steady progress quickly and through the year", Brian Olsavsky, Amazon's chief financial officer, said in a Thursday earnings call with analysts.
He said Amazon is already spending heavily to update its infrastructure to make the change, including $800 million in investments in the current quarter, starting in North America. Overall, first-quarter sales rose 17 per cent to US$59.7b, compared to sales growth of 46 per cent previous year.
The initiative will add value to the $119 annual Prime membership fee, of which more than 100 million customers enjoy perks like free access to its streaming TV and films, unlimited reading and exclusive deals, as well as same-day delivery for eligible zip codes. The stock has gained 27 percent this year.
Growth in those segments means more predictable revenue, a contrast to Amazon's retail business.
Amazon's net income rose to US$3.56 billion, or US$7.09 per share, in the first quarter ended March 31, from US$1.63 billion, or US$3.27 per share, sending its shares up 1.2 per cent after the bell. Worldwide shipping costs reached $7.3 billion in the past quarter, up 21 percent year-over-year. Amazon has not described in detail its thinking behind the bets.
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But its breakneck growth has also caught the attention of regulators - and President Donald Trump - who argue that the company's market dominance gives it too much power. The company's digital advertising franchise has grown into the third largest in the USA, trailing only Alphabet Inc.'s Google and Facebook Inc., researcher EMarketer estimates.
Amazon's gross margin in the period was a record 43 percent.
Amazon's Olsavsky said the company saw no material impact in India from actions the company took to comply with new regulations there affecting foreign investment in the e-commerce sector, something Amazon had voiced concern about in the past.
Amazon said it employed more than 630,000 workers during the first quarter, a 12 per cent increase from the year before.
The company's lucrative advertising and cloud computing businesses notched the bulk of its profits and helped boost margins even as sales growth slowed.
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If you didn't want a stranger having access to your home or vehicle to deliver packages, the garage was the next logical step. Amazon's Key for Garage, announced earlier this year , is now available for Prime customers to install at their homes.
Since then, the three companies adopted a new governance structure designed for smoother and more equitable decision-making. It was Nissan's second downgrade for its outlook following one in February that cited faltering sales in China and the U.S.
They said there is evidence Warmbier suffered a respiratory arrest, which led to a lack of oxygen to the brain. Yun and an emergency medicine doctor, Michael Flueckiger, traveled to Pyongyang on a medical evacuation plane.
Some of the features of the smartphone have already been confirmed by the CEO of Redmi, Lu Weibing, and other Xiaomi executives. On the connectivity front, the Redmi Y3 supports Bluetooth 4.2, Dual VoLTE and additionally features IR blaster as well.
It has filed a lawsuit earlier this year, challenging a USA law that has banned federal agencies from purchasing its products. Meanwhile, the company launched what it said was the world's first 5G communications hardware for the automotive industry.
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Misfiring Jesse Lingard missed a simple tap-in, and United's dream of a top four finish is looking virtually over at the moment. Sterling led a City counter-attack before feeding Sane, whose powerful shot De Gea could not keep out.
A 7.9% YoY fall in the company's motorcycle shipments acted as the primary negative factor affecting its first-quarter revenue. Trump wrote on Twitter on Tuesday that "Harley-Davidson has struggled with European Union tariffs, now paying 31 percent".
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