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Amazon's stock surges after earnings more than double, revenue beats

Amazon's stock surges after earnings more than double, revenue beats

"Relationships with external companies is actually helping to accelerate the adoption of Alexa with customers", Bezos said.

So if Amazon is renewing its push with Alexa, you can expect more devices powered by the voice assistant, more Alexa skills and features, and likely more Alexa-compatible home appliances.

Alexa device sales are booming, Amazon said on a conference call with investors. Q4 marks the 11 straight profitable quarter for Amazon. By comparison, the 2017 Q4 profit is more than double its net profit for the same period the previous year. And excluding the contribution from Whole Foods - which the company acquired in the third quarter of 2017 - and the effect of currency, Amazon's revenue grew 25% year over year.

Inc on Thursday reported profit of almost US$2 billion, the largest in its history, as the online retailer drew millions of new customers to its Prime fast shipping club for the holiday season and as changes to U.S. tax law added to its bottom line.

The company had a "banner" holiday season as well, according to Daniel Ives, head of technology research at GBH Insights.

"Amazon is the pipe and they're collecting commissions on all that volume", he said. In fact, it was the top-selling product on Amazon during the holiday period.

Amazon Web Services reported $17.5 billion in sales in 2017 - a 43% growth year-over-year. Amazon noted that the fourth quarter earnings includes a tax benefit of roughly $789 million due to the change in US tax code.

Bezos added more billions to his fortune on Friday after the value of his Amazon shares soared.

McIlroy's expectations on the rise forward of Dubai event
The four-time major victor sits on 19 under par after Round 3 Saturday, just one shot behind China's Li Haotong. All eyes, though, will be on McIlroy in the final round and he looks ready to pounce.

"Price decreases have brought up demand, and the out-of-stock issues are tied to increased demand", Olsavsky conceded.

Amazon is aggressively expanding and taking on new frontiers.

It looks like the whole cloud computing thing is going to work out well for Amazon.

Once again, AWS, the cloud unit of Amazon, helped the tech giant bolster its revenue and profit.

The launching of two furniture brands: Rivet, Mid-Century Modern furniture for smaller spaces, and Stone & Beam, "modern household" furniture.

Earlier in the week, Amazon announced it was teaming up with Berkshire Hathaway and JPMorgan Chase to create an independent health care company.

The three companies unveiled a yet-to-be-named company to give their US workers and families a better health insurance option. But even without the benefit, the profit number would have been the largest in the company's history. The company is also seeking a location for its second headquarters, with several United States cities in the running. It will employ as many as 50,000 workers. Amazon will make a decision this year.

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