Amazon’s quarterly profit crosses $1b

It was a prime holiday season for Amazon: The online retailer’s quarterly profit soared past $1 billion (Dh3.6 billion) for the first time in its more than 20year history as it sold more voice-activated gadgets, enlisted new Prime members and benefited from its recent purchase of Whole Foods.

The Seattle-based company’s profit was also helped by recent changes to the tax law, giving it a $789 million tax benefit during the fourth quarter.

Amazon, which got its start as an online bookstore in 1995, has ambitions that go far beyond online retailing. Last week, for example, it announced plans to create a new health care company with JPMorgan Chase and Warren Buffett’s Berkshire Hathaway to find a lower cost solution for the three companies’ employees.

It also sees its Alexa voice assistant as a big part of its future. Amazon has been striking deals to put Alexa in cars, refrigerators and alarm clocks, allowing users to ask it the weather out loud or shop on Amazon. com by voice. Amazon said Thursday that it sold “tens of millions” of its Alexaenabled Echo devices last year, but didn’t give specific numbers.

Overall, Amazon reported net income of $1.9 billion, or $3.75 per share, in the three months ending December 31. That blew past the $1.88 per share analysts expected, according to FactSet. Its profit was more than double the $749 million it reported in the same quarter a year ago.