Amazon’s full-year revenue rises a third
Written by Mark Evans
With both Alibaba and Amazon reporting recent results two themes become clear: online retail is a great cash cow and the big companies in it are expanding into other areas such as corporate cloud.
For Amazon, results for the year came in at $177.9bn (£124.6bn), a rise of 31 per cent, while profit hit $3bn, against $2.4bn in 2016 - sales in part driven by the success of the Alexa digital assistant.
However, it is in the new areas that the major story lies. Amazon has long been more than just a retailer, and its cloud solutions have been around a while, but it has also recently stated an intention to enter healthcare – along with Berkshire Hathaway and JP Morgan.