For the first quarter ending 31 March, Amazon posted a net profit of $513 million (£350m) compared to a net loss of $57 million (£39m) in the same year ago period. Operating income in the segment also grew more than three times, reaching $604 million.
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Analysts were expecting a profit of 58 cents a share.
Amazon’s revenue leaped to $29.1 billion, a 28 percent increase over the same period past year.
CEO Jeff Bezos said the Kindle Fire was a big contributor to overall sales growth as the company sold twice as many Fire tablets as it did in the first quarter of previous year.
Amazon’s strong performance represents the fourth straight quarter of profitability for a company that has long seemed indifferent to turning a profit.
While sales of Amazon’s devices have been overshadowed by rivals like Apple, the firm said consumers bought twice as many of its Fire Tablets in the first quarter than a year ago.
Amazon web services revenue was up to $2.57 billion – ahead of the $2.53 billion that analysts were expecting.
There are now 28 positions for the company’s private-label business advertised on its website, spanning fit managers and merchandisers to business intelligence analysts.
Inc.is expected to report financial results for the first quarter after the close of trading Thursday. But it also has failed to gain traction in China against Alibaba Group Holding Ltd. Investors will be looking for any more clarity on how Amazon plans to boost results overseas and any new markets. “Earlier this week, the $39 Fire TV Stick became the first product ever – from any manufacturer – to pass 100,000 customer reviews, including over 62,000 five-star reviews, also more than any other product ever sold on Amazon”.
The Echo has been a surprise hit and Bezos said in the statement that the company could not keep it in stock, but he declined to provide sales figures.
AWS’ electric growth helped bring Amazon into the black over the past several quarters.
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The company said it would invest further in original TV content for Prime, which is to show the near motoring show headed by former Top Gear trio Jeremy Clarkson, Richard Hammond and James May later this year. This represents Amazon’s strongest worldwide growth in more than three years, according to Amazon CFO Brian Olsavsky, who emphasised the importance of investing in Prime, especially in global markets.
