wordpress blog stats
Connect with us

Hi, what are you looking for?

Amazon reports net income of $1.6 billion, vows to continue investing in India

amazon

Amazon reported net income of $1.6 billion for the quarter ended March 31, 2017 (Q1 2018), more than double of the $724 million net income reported in the corresponding quarter last year. The company’s total revenues for the quarter stood at $51 billion, up 43% from $35.7 billion in Q1 2017. The company's operating income also nearly doubled to $1.92 billion this quarter from around $1 billion in Q1 2017. Driven by big investments in India the e-retail giant's global losses grew 29% to $622 million compared to $481 million in the March quarter of 2017. The number, however, was lower than the $900 million peak from the December quarter (Q4 2017). The company's international sales increased by 34.5% to $14.8 billion from $11 billion in the same period. Amazon will continue to invest in India Despite this, the company does not seem to be wavering in its plans in India, "We'll continue to invest in India where we're seeing great progress with both sellers and also customers. And we like the momentum we've seen there," CFO Brian Olsavsky said during the earnings call. "The Prime program started in the first year in India grew faster than any Prime program we've seen in other countries. We're adding local content in India, video content. We're also adding other Prime benefits. We're rolling out devices there, and we're seeing Indian developers developing skills for Alexa," In his letter to shareholders last week, Jeff Bezos highlighted India as a 'milestone', stating that Amazon.in…

Please subscribe/login to read the full story.
Written By

Writes about consumer technology, social media, digital services and tech policy. Is a gadget freak, gamer and Star Wars nerd.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

New bill narrows focus over predecessors that went heavy on data sovereignty, localisation and compliance. What explains this change?

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

News

A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'

News

India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ