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Amazon’s net sales increase 21% YoY, claims over 150 million Prime subscribers globally

Amazon’s net sales increased 21% to $87.4 billion in Q4FY19, compared to $72.4 billion in the same quarter last year. Operating income increased to $3.87 billion in the fourth quarter, compared with operating income of $3.78 billion in Q4FY18. Net income increased to $3.3 billion in the fourth quarter, as opposed to a net income of $3.0 billion in Q4FY18. Net sales for 2019 increased 20% to $280.5 billion, compared with $232.9 billion in 2018. Amazon Prime: CEO, Jeff Bezos said that there are now over 150 million Prime subscribers globally, and that more people joined the service in Q4FY19, than any other quarter in the company’s history. During a call with investors, CFO Brian Olsavsky said that Amazon spent less than the $1.5 billion he expected for the extra Prime benefits in the fourth quarter. Brazil had the fastest growth in paid Prime members this quarter, after the service was launched there last September. Amazon Fresh, which was previously $14.99 a month, is now a free benefit for Prime members in the USA. AWS grows, but investors remain sceptical: Amazon Web Services (AWS) saw a 34% YoY increase in sales for a total of $9.95 billion in revenue during the quarter; operating income grew 19% YoY to $2.6 billion. Olsavsky said that AWS is currently present in 69 availability zones, spread across 22 geographical locations. However, a few investors raised concerns about AWS’ slowing revenue and margin compared to the previous quarter ($8.96 billion net sales in Q3FY19), and if that was due to “increased competition” (read Microsoft Azure). Olsavsky said the…

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