Amazon’s Q1 sales jump 43% to $51bn
Amazon notched up net sales of $51bn for the first quarter (Q1), which was an increase of 43% on last year.
Operating income almost doubled – up from $£1.0bn in Q1 2017 to $1.9bn.
One of the key drivers for growth was the Amazon Web Services (AWS) cloud computing business, which was up 49%, accounting for $5.4bn.
The results were significantly better than expected – and Amazon shares were up 7% in after-hours trading.
Meanwhile, sources report that the annual membership feel for Amazon Prime will be increasing on 11 May, In the US, sources report, the annual membership cost will rise by $20, from $99 a year to $119.
