Amazon rakes in $35.7 billion in sales, beating expectations

Amazon raked in $35.7 billion in sales this past quarter, beating analyst expectations and up 23% since the year-ago quarter, the company said on Thursday in its latest earnings report.

The online retail giant also touted its nine-month-old business in India, where product selection for its Prime membership service has grown 75% since launch. It's also announced 18 original TV series for the country and recently released a version of its Fire TV Stick for media streaming customized with search in both English and Hindi. In India, Amazon faces stiff competition from local companies like Snapdeal and Flipkart.

Other highlights:

• Slowdown in year-over-year sales growth across the board
• Amazon Web Services did $3.7 billion in sales this past quarter
• Net income of $724 million