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Amazon beats holiday-quarter sales estimates

Video Credit: Reuters Studio - Duration: 00:42s - Published < > Embed
Amazon beats holiday-quarter sales estimates

Amazon beats holiday-quarter sales estimates

Amazon.com Inc on Thursday posted holiday quarter results well above expectations as the expansion of its one-day shipping program came under budget and membership in its Prime loyalty club notched a 50% rise in two years.

Freddie Joyner has more.

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Amazon beats holiday-quarter sales estimates

It was a blockbuster holiday season for Amazon.com.

The company reported that sales jumped and profit far exceeded expectations, as the world’s biggest online retailer shortened delivery times and drew more shoppers to its Prime service.

Jeff Bezos, Amazon’s chief executive, said in a statement that the company now has more than 150 million paid Prime members, a 50% increase from the retailer’s last disclosure in 2018.

Total net sales rose 21% to $87 billion in the fourth quarter, beating estimates.

Shares soared after hours, up more than 10 percent.




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