Gifts Today magazine

Amazon posts £140m profit

Huge margin comes shortly after online retailer announced loss

Amazon made a net profit of £142m over Christmas, not long after reporting its biggest ever loss.

Sales rose 15 per cent to £19.45bn in the three months to 31 December. Amazon attributed the rise to its subscription service Amazon Prime whose base users rose 53 per cent.

In the previous quarter, amazon lost £290m net and the company said that its finances were “inherently unpredictable” and it could make an operating loss of up to £298.6m over the next few months.

Amazon boss Jeff Bezos said Amazon Prime was the driving factor behind the profits, calling it a “one-of-a-kind, all-you-can-eat, physical-digital hybrid”.

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