Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
Amazon CEO Jeff Bezos at a Golden Globes party last month. Photo: Alberto E. Rodriguez/Getty Images
Amazon's earnings for the 2017 holiday season beat estimates as it continues to dominate the online retail market.
The bigger picture: The Wall Street Journal notes that the fourth quarter of 2017 was the first where the company — which has notoriously tight margins — drew a profit of more than $1 billion, which the company says included a "provisional" tax benefit of $789 million linked to the recently-passed tax reform bill.
The results come not long after Amazon jolted the healthcare market with news that it would create a new company with J.P. Morgan Chase and Berkshire Hathaway to "address health care" for their employees in the United States.
The gritty details:
- The company brought in $3.75 per-share in Q4 of 2017, vs. the $1.85 estimated by Wall Street, per CNBC.
- It's total quarterly profit was $1.9 billion. It was $749 million in the year-ago quarter.
- Net fourth-quarter sales rose rose to $60.5 billion, up from $43.7 in the year-ago quarter.
Note: This post has been clarified to show that Amazon dominates online retail, not physical retail as well.