Amazon Wins Holiday With 38 Percent Sales Gain
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Amazon got its wish for the holidays as the Seattle-based ecommerce giant again topped analyst expectations when it reported fourth quarter sales gains on Thursday afternoon. The company, which acquired grocer Whole Foods last year, cited a 38 percent gain in net sales for the quarter over the year-earlier period to $60.5 billion. Net income was $1.9 billion, more than double last year’s $749 million. Much of the growth was led by sales of its own devices; Amazon cited its Fire TV and Echo Dot as best-selling products.
CEO Jeff Bezos noted in a statement that the brand exceeded its own expectations, specifically its projections for Alexa. “We don’t see positive surprises of this magnitude very oftenexpect us to double down,” he said, noting that “other companies and developers are accelerating adopting of Alexa.”
For the full year, Amazon posted a 31 percent increase in net sales to $177.9 billion. The company, which is airing two spots in Sunday’s Super Bowl, outlined key growth areas on a call with analysts, which we’ve broken down below:
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