Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Amazon doubles profits but international losses widen

Ecommerce behemoth Amazon has announced soaring revenue and profits for the first quarter of 2018, as its online dominance continues to grow.

Profits for the first three months of 2018 doubled to $1.6bn (£1.15bn), and revenue reached $51bn (£36.61bn) for the quarter, up from $37.7bn (£27.1bn) last year, an earnings call reported by The Guardian shows.

Each day, Amazon made more than $550m (£394.8m) in revenue from a combination of sales on Amazon.com, web hosting, TV production and sales from the US grocery chain Whole Foods.

While the retailer did not break down divisional profits for overall Amazon sales or sales from its fashion offer, it noted the strong growth of its cloud computing business, Amazon Web Services.

Sales rose to $14.8bn (£10.64bn) at Amazon’s international business – which includes the UK market – but losses widened to $622m (£447m) compared with $481m (£345.7m) last year.

Amazon is the second most valuable company in the world, after computing giant Apple, and is worth an estimated $723bn (£518.97bn).

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.