Net sales at the world’s biggest online retailer Amazon soared 22 per cent to $43.7 billion in the three months ended December 31, 2016 as against $35.7 billion in the fourth quarter of previous year. Excluding the $558 million unfavourable impact from foreign exchange rates, net sales surged 24 per cent year on year in the reporting quarter.
In the fourth quarter of 2016, operating income rose 13 per cent over a year ago quarter to $1.3 billion, while net income was $749 million or $1.54 per diluted share in the quarter under review, vis-à-vis $482 million, or $1.00 per diluted share in the earlier year’s same quarter.Net sales at the world's biggest online retailer Amazon soared 22 per cent to $43.7 billion in the three months ended December 31, 2016 as against $35.7 billion in the fourth quarter of previous year. Excluding the $558 million unfavourable impact from foreign exchange rates, net sales surged 24 per cent year on year in the reporting quarter.#
For the full year of 2016, net sales drove up 27 per cent over 2015 to $136.0 billion and excluding the $550 million unfavourable impact from changes in foreign exchange rates, they rose 28 per cent compared with 2015.
In 2016, operating income at the online retailer stood at $4.2 billion, nearly double over $2.2 billion it reported in 2015, while net income was $2.4 billion, or $4.90 per diluted share in the year under review as against $596 million, or $1.25 per diluted share in 2015. (AR)
Fibre2Fashion News Desk – India
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