Amazon: Christmas sales soar as other retailers struggle

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Amazon sales soared over the Christmas season, rising 21% from the prior year, in sharp contrast to weakness reported by other retailers.

The e-commerce juggernaut said it earned $87bn (£66bn) in sales in the last three months of the year, well ahead of analyst expectations.

Its cloud services division, a key profit-driver, also saw its quarterly sales rise 34% to almost $10bn.

The news sent the firm’s shares up more than 10% in after-hours trade.

Amazon said it earned $3.3bn in profit, up from $3bn a year ago - despite spending heavily on high speed delivery services for its Prime members.

Boss Jeff Bezos said the firm now had more than 150 million Prime accounts globally - up 50% from its last disclosure in 2018.

“Prime membership continues to get better for customers year after year. And customers are responding - more people joined Prime this quarter than ever before,” he said.

Other retailers, including Target and Macy’s, reported holiday sales that missed forecasts.


By Laura Price

Laura is the senior writer and Smartphones section editor responsible for managing software updates and smartphones section. She is very passionate about Gadgets & Technology and always looking around to use them in an innovative way in daily life. She reviews Gadgets & Applications to tell users about their optimum use to get the most out of in which they’ve put their time and hard earned money.
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