Amazon Profit Tops Estimates as Demand Grows for Fast Delivery, Cloud Services
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Amazon’s sales and profit topped estimates on robust demand for quick-turnaround delivery, cloud services and gadgets like the Kindle and Echo, adding to evidence the e-commerce giant can make money even as it invests heavily in future hardware, software and entertainment.
The results were a validation of Jeff Bezos’s customer-centric philosophy and the Amazon Prime membership model, sending the shares up the most in almost a year Friday morning.
The co-founder and CEO continues to invest to add services to the company’s $99-a-year subscription program by delivering products in as little as an hour and creating exclusive video programming for online streaming. Amazon is also working to keep consumers engaged with new products like low-cost tablets and the Echo voice-activated home assistant.
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