Amazon's profit machine shows little sign of slowing down.
The company on Thursday reported:
- A record $3.6 billion in profit for the first three months of 2019, more than doubling from $1.6 billion the year prior. Amazon's profits have now topped $1 billion for six straight quarters.
- Revenue of nearly $60 billion for the quarter, an increase of just 17% from the year prior, its lowest growth rate since 2015.
For years, Amazon was known for bleeding money as it invested heavily in its businesses and rapidly increased revenue.
Now, it has entered a new era with comparatively sluggish sales growth, but a consistently profitable business.
Shares of Amazon (AMZN) initially rose 3% in after-hours trading Thursday following the earnings report, before giving up some of the gains.
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