Amazon Q4 Profit Reaches $1.9 Billion As Bezos Plans To ‘Double Down’ On Alexa
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The 2017 holiday season was fruitful for retail, and the industry leader certainly got its share of the wealth: Amazon more than doubled its net income in Q4 2017 to $1.9 billion, with net sales increasing 38.2% to $60.5 billion and operating income increasing 69% to $2.1 billion. Whole Foods figures were included in the quarterly report for the first time since the chain’s acquisition in mid-2017.

In a call with analysts, Amazon CFO Brian Olsavsky credited record order volume and improved warehouse efficiency during the holiday shopping season for the successful quarter. Amazon’s total operating expenses in Q4 increased 37.3% to $58.3 billion, as the company continues to invest in its warehouse and delivery capabilities, expand Prime and create original video content. Given that subscription revenue from Prime increased 46%, it’s clear Amazon believes the service is paying dividends and is worth the significant financial support.

Amazon’s cloud services business continues to pay many of the company’s bills. AWS revenue jumped 44.6% to $5.11 billion in the quarter, beating estimates of $5 billion. AWS also generated $1.3 billion…