Amazon racks up record $1.1B in revenue this quarter, despite $1 billion loss in Q4 2017
Amazon’s revenue fell by nearly $1 million in the fourth quarter of 2017 compared to the same period last year, and the company lost more than $1bn in 2017 compared with 2016.
The online retailer reported net income of $1,079 million, a $1 per share drop from the same quarter a year earlier.
Amazon has been losing money in recent years.
In 2016, the company’s profit margin shrank by about $1 a share, and it ended the year with net income down to 2.9 percent from 3.3 percent in the prior year.
That’s below the 3.9 to 4.5 percent analysts had expected, and was the first year in Amazon’s history to not make any profit margins bigger than 3.1 percent.
Amazon is expected to post a loss of $2.6 billion in 2018, and earnings per share are expected to be a paltry $1 to $1