Amazon's quarterly profit tops $1 billion for first time
NEW YORK (AP) — It was a prime holiday season for Amazon: The online retailer's quarterly profit soared past $1 billion for the first time in its more than 20-year 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.