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Amazon hits record profit but misses expectations

Amazon reported a record net profit of $482m (£335m) for the three months to December 31, but missed analyst expectations of $754m (£524m) by a wide margin.

It was the first time the etailer recorded three consecutive profitable quarters and it was the largest profit posted by the firm to date.

Sales for the period totalled $35.75bn (£24.8bn), however analysts were expecting sales of $36bn (£25bn).

Jeff Bezos, founder and chief executive of Amazon said: “Twenty years ago, I was driving the packages to the post office myself and hoping we might one day afford a forklift. This year, we pass $100 billion in annual sales and serve 300 million customers. And still, measured by the dynamism we see everywhere in the marketplace and by the ever-expanding opportunities we see to invent on behalf of customers, it feels every bit like Day 1.”

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