Amazon Q4 sales, earnings beat expectations; outlook disappoints

Amazon wage hike pays off as it reveals record profits

'Alexa was very busy': Amazon reports record profits and strong holiday season

The speedy Prime Now delivery service is live in more than 10,000 cities, Amazon said in its earnings report, and it now serves the majority of Prime members.

Wall Street was more interested in how Amazon's testy talks with Big Apple legislators are shaping up over its Long Island City headquarters and a second location in Northern Virginia.

Brian Olsavsky, Amazon's chief financial officer, said on a call with reporters that the "situation in India is a bit fluid right now". In-store pickups of online grocery orders don't count as physical store sales, further clouding the ability to track the performance of Amazon's grocery push.

The Echo Dot was the best-selling item during the holidays. "Echo Dot was the best-selling item across all products on Amazon globally, and customers purchased millions more devices from the Echo family compared with previous year", Amazon Chief Executive Jeff Bezos said in a statement announcing the results.

In terms of the company's total sales, Amazon sold $232.9 billion United States dollars (roughly $305.76 billion CAD) in 2018, representing an increase of 31 percent. Worldwide revenue came in a touch above expectations, too.

For the current quarter ending in April, Amazon said it expects revenue in the range of $56 billion to $60 billion.

First published January 31, 1: 26 p.m. PT. Update, 2:14 p.m. PT: More details added throughout. Although its operating loss shrunk to US$642-million from US$919-million in the quarter, rules in India created concern. Overall revenue rose 20 per cent, and the company's "other" revenue category, which is mostly advertising, grew 95 per cent to US$3.39 billion in the quarter.

Chicago police still looking for video of attack on actor
According to Guglielmi, Smollett later went to Northwestern Memorial Hospital after police advised him to do so. Trump did not comment on claims the attackers were supporters of his and did not offer Smollett any apology.

An investigation by the Mirror found that Amazon UK Services had paid £61.7 million corporation tax in the UK in the last 20 years.

But Amazon has an advantage over those competitors, in that it can leverage growing profits from its Amazon Web Services cloud computing division to allow its e-commerce operations to run on thin profit margins. Amazon says its revenues will be hindered somewhat by the strong USA dollar.

Shares of Amazon were moving back and forth in after-hours trading.

Amazon said tens of millions of shoppers signed up for Prime during the season, helping boost revenue from subscription fees 25 per cent to US$4.0-billion.

Amazon's profits were up dramatically year-over-year as well. Its market cap, more than $840bn as of Thursday afternoon, is the largest of any publicly traded company in the world.

Company executives said they are looking beyond the website when it comes to being a player in the digital ad market dominated by Google and Facebook, and is even dabbling with video ads.

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