Jan 31, 2019

Amazon sales soar 20% for quarter

Amazon distribution center in Germany. Photo: Holger Hollemann/picture alliance via Getty Images

Amazon announced quarterly sales rose 20% from the same quarter a year ago, to $72 billion, in an earnings report that beat analyst's revenue predictions, with a total of $3 billion profit for the quarter, or $6.04 per share, compared to an average analyst target of $5.56.

The big picture: The growth of Jeff Bezos' e-commerce behemoth shows no sign of slowing down.

Amazon said that Echo Dot, its entry-level Alexa-powered smart speaker, was "the #1 selling product on Amazon globally, from any manufacturer, in any category this holiday season."
Amazon Web Services, the company's hugely successful cloud computing unit — whih has driven much of Amazon's recent growth in profitability — saw a 45% sales increase year-over-year, to $7.43 billion.

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Global: Total confirmed cases as of 9 a.m. ET: 614,884 — Total deaths: 28,687 — Total recoveries: 135,671.
U.S.: Leads the world in cases. Total confirmed cases as of 9 a.m. ET: 104,837 — Total deaths: 1,711 — Total recoveries: 894.
Federal government latest: President Trump signed the $2 trillion coronavirus stimulus bill to provide businesses and U.S. workers economic relief.
State updates: Alaska is latest state to issue stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month.
World updates: Italy reported 969 coronavirus deaths on Friday, the country's deadliest day.
Business latest: President Trump authorized the use of the Defense Production Act to direct General Motors to build ventilators for those affected by COVID-19. White House trade adviser Peter Navarro has been appointed to enforce the act.
What should I do? Answers about the virus from Axios experts — What to know about social distancing.
Other resources: CDC on how to avoid the virus, what to do if you get it.

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