Apr 27, 2017

Amazon rakes in $35.7 billion in sales, beating expectations

Kia Kokalitcheva

Paul Sakuma / AP

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

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Coronavirus kills 2 Diamond Princess passengers and South Korea sees first death

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. U.S. numbers include Americans extracted from Princess Cruise ship.

Two elderly Diamond Princess passengers have been killed by the novel coronavirus — the first deaths confirmed among the more than 600 infected aboard the cruise ship. South Korea also announced its first death Thursday.

The big picture: COVID-19 has now killed more than 2,100 people and infected over 75,000 others, mostly in mainland China, where the National Health Commission announced 114 new deaths since Wednesday.

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Illustration: Rebecca Zisser/Axios

T-Mobile and Sprint announced a revised merger agreement that will see SoftBank getting a smaller share of the combined company, while most shareholders will receive the previously agreed upon exchange rate. The companies said they hope to get the deal as early as April 1.

Why it matters: The amended deal reflects the decline in Sprint's business, while leaving most shareholders' stake intact and removing another hurdle to the deal's closure.

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