Friday, July 29, 2016

Amazon’s Profits Grow More Than 800 Percent, Lifted by Cloud Services - The New York Times

From an Amazon earnings overview

"What is most striking about its recent habit of showing profits is that Amazon has not suddenly become stingy about making investments. In a conference call, Amazon’s chief financial officer, Brian Olsavsky, said that the company would open 18 new fulfillment centers — the warehouses from which it processes customer orders — in the third quarter of this year, three times the number it opened in the same period last year.

Amazon plans to nearly double its spending on digital video during the second half of the year as it expands the offerings of its Netflix-like streaming service, he said. That spending increase reflects a nearly tripling in the number of original television shows and movies financed by Amazon.

“I would not take our financial results as an indication we’re running out of investment opportunities,” Mr. Olsavsky said."
Amazon’s Profits Grow More Than 800 Percent, Lifted by Cloud Services - The New York Times
Post a Comment