Amazon posts jump in profits as cloud sales grow 70 per cent
Profits at online retailer Amazon jumped in the three months to September, the company has announced today.
Amazon posted net income of $79m (£51m), or $0.17 per share in the three months September, compared to a net loss of $437m, or 0.95 cents a share, in the same period last year.
Net sales were reported to be $25.4bn, up 23 per cent from revenues of $20.6bn in 2014.
Sales for Amazon Web Services, its cloud-hosting business, were up 70 per cent from the same time last year to $5,474bn while its operating income more than doubled to $1,177m.
“For the first time, we’re recommending you bring home a six-pack for the whole family,” said Jeff Bezos, founder and chief executive of Amazon.com.
“At a price of $50 for one or $250 for a six-pack, Fire sets a new bar for what customers should expect from a low-cost tablet."