On February 1, Amazon announced its fourth quarter and full year earnings for 2018. Among them, Amazon's sales in the fourth quarter was $72.383 billion, an increase of 19.7% from the same period last year. Net profit reached US$3.027 billion, a year-on-year increase of 63.1%. For the whole year, Amazon's sales were 232.387 billion US dollars, an increase of 30.9%; net profit was 10.073 billion US dollars, an increase of 232.1%.
In this case, Amazon's annual net profit is equivalent to a 58.com market capitalization. Looking back on the past year, Amazon's revenue growth rate reached 43 percent in Q1, the highest in the year, and 39 in the next three quarters. And net profit growth in Q2 reached an astonishing 1186. Amazon officials said the company's success was related to the new accounting standards and revenue recognition policies adopted.
It is understood that Amazon's fastest growing business is registered business, AWS cloud computing, advertising and full food supermarkets. It is worth mentioning that AWS and other businesses are also investment priorities. According to the financial report, AWS sales in the fourth quarter was 7.43 billion US dollars, an increase of 45.3%; annual sales of 25.655 billion US dollars, an increase of 46.9%, making a significant contribution to Amazon's annual profit.