02 Feb 2018 13:45 IST

Amazon’s quarterly profit tops $1 billion for first time

Revenue soared 38 per cent to $60.5 billion in the fourth quarter

It was a prime holiday season for Amazon: The online retailing giant posted its biggest quarterly profit yet today as it sold more voice-activated Echo devices and added more Prime members.

The Seattle-based company reported net income of $1.9 billion, or $3.75 per share, in the three months ending December 31. That blew past the $1.88 per share analysts expected, according to FactSet.

Revenue soared 38 per cent to $60.5 billion in the fourth quarter, beating the $59.8 billion analysts expected.

Amazon.com Inc.’s stock rose more than four per cent in after-hours trading yesterday.

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