Amazon got record profit

Amazon has released results of the first quarter of fiscal year 2016. The net profit of online retailer was 513 million dollars, significantly above analysts expectations and set the record for the entire history of the company. Sales in the first quarter increased by 28% comparing to the same period of last year, reaching 29,1 billion dollars. Division cloud services of Amazon Web has brought more than half of the profit. In February 2016 Netflix online cinema completely moved to Amazon cloud. Sales increased by 64% in the period from January to March comparing to the first quarter of 2015, reaching 2,6 billon dollars.

On the news of record profit Amazon share price jumped by 12%, increasing the capitalization of internet giant to 280 billion dollars. Please note, that trading is available during American session, from 16:40 till 23:00 GTM. The world’s largest internet retailer Amazon got record profit in the first quarter of 2016.

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