Amazon profits surge after strong Christmas and growth in AWS
Amazon posted surging profits and sales that exceeded expectations on Wall Street off the back of strong festive trading and growth in its cloud computing arm.
The world’s largest retailer reported sales of $170bn (£133.3bn) alone in the three months to December, up 14% on the same period in 2022 and well ahead of the expected $166bn (£130.2bn) predicted by analysts.
Net income hit $10.6bn (£8.3bn), up from just $278m (£218m) the previous year, as the retail giant moved to slash costs and brought to an end years of rapid expansion following the pandemic.
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