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News: General

Amazon Prime Touts 2016 Consumer Media Usage

Thursday, February 2, 2017   (0 Comments)
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From Variety:

Internet retailing giant Amazon touted strong results of its Prime membership program — saying user consumption of video, music and book content in 2016 more than doubled — but the company, as is typical, didn’t provide specific metrics beyond that.

Amazon reported the media-consumption stat in announcing four-quarter 2016 results. Net sales in the holiday quarter were well short of Wall Street expectations of revenue of $44.68 billion, coming in at were $43.74 billion (up 22% from the year-earlier period). Net income was $749 million in the fourth quarter, or $1.54 per diluted share, beating analyst forecasts of adjusted EPS of $1.40. It’s Amazon’s seventh consecutive quarter posting a profit, after years of losses.

According to Amazon founder and CEO Jeff Bezos, the company added “tens of millions” of new paid Prime members last year.

- Read the full article at Variety.com


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