Jan 31, 2020

Amazon Christmas sales soar as rivals struggle

Amazon sales soared over the Christmas season, rising 21% from the prior year, in sharp contrast to weakness reported by other retailers. The e-commerce juggernaut said it earned $87bn in sales in the last three months of the year, well ahead of analyst expectations. Its cloud services division, a key profit-driver, also saw its quarterly sales rise 34% to almost $10bn. Amazon said it earned $3.3bn in profit, up from $3bn a year ago - despite spending heavily on high speed delivery services for its Prime members. "Prime membership continues to get better for customers year after year. And customers are responding - more people joined Prime this quarter than ever before," he said.

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