Amazon brought in a record $3.6 billion in profit during the first quarter of 2019, more than doubling its profit from a year ago and continuing its streak of record-breaking earnings. The company’s lucrative advertising and cloud computing businesses notched the bulk of its profits and helped boost margins even as sales growth slowed.
Amazon executives said Thursday they are working to offer free one-day shipping to the company’s 100 million Prime members, which will require an $800 million investment during the second quarter. The retailer currently offers free two-day shipping on most Prime orders.
Since its founding 25 years ago, Amazon has grown rapidly into one of the country’s largest and most influential companies. In addition to its flagship e-commerce business, the Seattle-based giant also has a toehold in a number of other industries, including grocery delivery, home security and movie production. Earlier this week, the company announced that it would begin accepting returns at all Kohl’s department stores, giving it yet another way to connect with shoppers both online and in stores.
