Jeff Bezos is $12.8 billion richer after Amazon delivered strong holiday sales
... [+]Amazon’s Jeff Bezos has further cemented his position as the world’s richest person after the e-commerce giant reported a strong holiday quarter.
Amazon’s strong quarter was driven by record holiday sales, likely bolstered by last-minute shoppers who took advantage of the company’s new free, one-day shipping. Amazon has been investing heavily in logistics after promising last year that it would make one-day shipping the new normal for Amazon Prime members, rather than the two-day shipping that it has long offered. In the fourth quarter alone, it planned to spend $1.5 billion on the initiative.
During the quarter, net income jumped to $3.3 billion, or $6.47 per share, up from $3 billion, or $6.04 per share, a year earlier. That was leaps and bounds above the $4.04 per share that Wall Street analysts were looking for. Revenue increased 21% to $87.4 billion, beating analyst estimates of $86.01 billion.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jeff Bezos Sued by Girlfriend Lauren Sanchez's BrotherMichael Sanchez, the brother of Jeff Bezos' GF, Lauren Sanchez, is suing him for defamation.
Read more »
Jeff Bezos and Lauren Sanchez party at LIV in Miami During Super Bowl WeekendJeff Bezos and Lauren Sanchez certainly didn't let her brother's defamation lawsuit spoil their Super Bowl weekend ...
Read more »
Jeff Bezos Sued by Girlfriend Lauren Sanchez's BrotherMichael Sanchez, the brother of Jeff Bezos' GF, Lauren Sanchez, is suing him for defamation.
Read more »
Canada November budget deficit edges up to C$2.70 billionCanada posted a budget deficit of C$2.70 billion ($2.05 billion) in November, up...
Read more »
Amazon Stock Surges, Market Cap Tops $1 TrillionAmazon is set to become the fourth U.S. company worth $1 trillion after its shares Friday surged following blockbuster earnings that included surpassing 150 million Amazon Prime customers, faster s…
Read more »
Amazon Is Having a Secret Sale on This Popular Pressure Cooker—and Only Prime Members Can Access ItAmazon Is Having a Secret Sale on This Popular Pressure Cooker — and Only Prime Members Can Access It
Read more »