Amazon said Thursday it made $1.6 billion in profit during the first three months of 2018, more than double the same period a year earlier, even as it invests in costly fulfillment centers and original programming.
Amazon, whose shares were up 7.1 per cent in after-hours trading, forecast net sales of between $51 billion and $54 billion for the current quarter.
For a man worth $127 billion dollars, that tiny fraction amounts to $1 billion a year, which he gets by liquidating Amazon stock, Bezos said at an Axel Springer awards event in Berlin, Germany, hosted by Business Insider US Editor in Chief Alyson Shontell.
AWS leads big-name rivals Microsoft and Google in the market that has boom with the lifestyle shift to accessing movies, music, games and more from the array of online devices.
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In the short term, his yearly $1 billion is going toward a tourism vehicle, expected to launch at the end of this year or beginning of 2019, and a large orbital vehicle scheduled to fly in 2020. That's why you're seeing this remarkable acceleration in AWS growth, now for two quarters in a row. Analyst consensus estimated operating income of $1.13 billion of operating income and sales of $52.3 billion.
Amazon Web Services continues to bolster the company's bottom line. Amazon had a 43 percent year-over-year increase in sales. "As a result, the AWS services are by far the most evolved and most functionality-rich".
Separately Thursday, the US National Football League announced that it is renewing a partnership with Amazon Prime Video to deliver a live streams of Thursday night football games. CEO Jeff Bezos recently revealed that the company has now surpassed 100 million Prime members.
"We are excited to work with them again for the next two seasons", National Football League chief media and business officer Brian Rolapp said in a release.