Indian sales boom helps Amazon to hit £28bn

SALES at Amazon have soared 23pc to almost £28bn in the first quarter, the online retail giant has revealed.

The figures – up from £22.5bn for the same period last year – were higher than analysts had predicted, and included a net profit rise from £155m to £561m.

Founder and chief executive Jeff Bezos used the results to praise the company’s expansion into India, with strong growth in its Prime subscription service and the introduction of its Fire TV Stick for media streaming.

‘Our India team is moving fast and delivering for customers and sellers,’ he said.

‘ The team has increased Prime selection by 75pc since launching the programme nine months ago, increased fulfilment capacity for sellers by 26pc this year, announced 18 Indian Original TV series, and just last week introduced a Fire TV Stick optimised for Indian customers with voice search in English and Hindi.

‘We’re grateful that customers are responding – Amazon.in is the most visited and the fastest growing marketplace in India.

‘It’s still “day one” for e-commerce in India, and I assure you that we’ll keep investing in technology and infrastructure.’

Amazon has expanded from its online retail roots, launching the Echo smart speaker in the UK, while this year its movie Manchester By The Sea won three Academy Awards.

The company now also rivals Netflix for TV and movie streaming services, through its Fire TV products.