Feb 1, 2018

Amazon beats earnings estimates for holiday quarter

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.

Go deeper

Updated 13 mins ago - Politics & Policy

CNN crew arrested live on air while reporting on Minneapolis protests

CNN's Omar Jimenez and his crew were arrested Friday by Minneapolis state police while reporting on the protests that followed the death of George Floyd, a black man who died in police custody in the city.

What happened: CNN anchors said Jimenez and his crew were arrested for not moving after being told to by police, though the live footage prior to their arrests clearly shows Jimenez talking calmly with police and offering to move wherever necessary.

First look: Trump courts Asian American vote amid coronavirus

Photo: Sarah Silbiger/Getty Images

The president's re-election campaign debuts its "Asian Americans for Trump" initiative in a virtual event tonight, courting a slice of the nation's electorate that has experienced a surge in racism and harassment since the pandemic began.

The big question: How receptive will Asian American voters be in this moment? Trump has stoked xenophobia by labeling COVID-19 the "Chinese virus" and the "Wuhan virus" and equating Chinatowns in American cities to China itself.

How the U.S. might distribute a coronavirus vaccine

Illustration: Annelise Capossela/Axios

Now that there are glimmers of hope for a coronavirus vaccine, governments, NGOs and others are hashing out plans for how vaccines could be distributed once they are available — and deciding who will get them first.

Why it matters: Potential game-changer vaccines will be sought after by everyone from global powers to local providers. After securing supplies, part of America's plan is to tap into its military know-how to distribute those COVID-19 vaccines.