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Amazon enjoys best year ever

5 February 2018 - Janet Bird

amazon

While many retailers struggled, online giant Amazon enjoyed its best year ever in 2017.

The retailing behemoth has revealed its net income more than doubled to $1.9 billion (£1.3 billion) in its fourth quarter, up from $749 million during the same period in 2016.

Net sales were also up 38 percent, hitting a record $60.5 billion (£42.5 billion).

Looking at the year as a whole, net sales were up 31 percent to $177.9 billion (£125 billion), an increase of just under $42 billion compared to 2016.

Year end net income reached $3 billion (£2.1 billion), up from $2.4 billion in 2016.

Key factors in Amazon's financial success in 2017 included the rise of Alexa adoption, a surge in Prime members and the popularity of its Fire TV Stick and Echo Dot products.


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