Amazon smashes Christmas with $280.5bn sales

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Amazon has announced that its 2019 sales increased 20% to $280.5bn, with sales for the Christmas period up 21% on the previous year.

 

The announcement comes shortly after Amazon became the first ever company to see its brand valuation top the $200bn mark.

 

Following the release of its financial results, Amazon shares surged by as much as 13% in after-hours trade. Earnings per share far exceeded expectations of $4.03 per share, hitting $6.47 per share, Amazon’s biggest share gain since 2017.

 

The results are largely due to the retailer’s huge investment in one-day and same-day delivery, which quadrupled over the quarter.

 

Amazon chief executive Jeff Bezos added: “more people joined Prime this quarter than ever before”, amounting to 150m paid-up subscribers globally, up from 100m in April 2018.

 

The company saw revenues rise across several arms of its business, with subscription services Amazon Prime Video and Music Unlimited, and its cloud computing arm, each reporting a 34% revenue rise.

 

www.amazon.com

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