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Amazon pulls in a record $5.4 billion profit

Amazon pulls in a record $5.4 billion profit

"We're now working on evolving our Prime shipping program, which has historically been a two-day program, to a one-day shipping program", Olsavsky said, according to CNET. "I wouldn't comment on deceleration or acceleration", Oslavsky said on the call.

"We'll be building most of this capacity through the year, in 2019", he later added.

Amazon has promised to cut delivery times worldwide for customers of its Prime service.

"In the past month, we have significantly expanded our one-day eligible selection and also expanded the number of zip codes eligible for one-day shipping".

Amazon's AWS cloud division again rained down impressive growth, with revenue up 41% to $7.7 billion (in line with Wall Street estimates). Now, with quarterly sales growth of less than 20% for the first time since 2015, shareholders are seeking greater profit. Amazon will take multiple quarters to roll it out across the United States.

Amazon's gross margin in the period was a record 43 percent. "We are working closely with each employee to ensure they are supported during this transition and we look forward to expanding our customer offerings in the months to come". It is spending more on video, from live sports to a planned prequel series to "The Lord of the Rings", to draw more people to log on to its website, watch, and while they are there, buy socks.




The company is delving into even less familiar terrain, too. While Amazon could wish for even more growth in retail, that doesn't mean it's in any financial trouble - today most of the internet behemoth's income comes from its cloud storage business, Amazon Web Services (AWS).

"For a long time, Amazon was the only real player in the game", Saunders said.

As the company has grown, it has become a clearinghouse for smaller businesses.

There were silver linings for investors, however. Those costs, he said, "will be going up in the back half of the year". In some other countries, such as the U.K., Prime members are already offered one-day shipping.

Amazon's main business blew away expectations and the stock was up in after-hours trading. However, his fortune, which has been the largest of any married couple in the world, will be divided. The advertising part of the business grew almost 100 percent in the fourth quarter on revenue of $3.4 billion.

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