It was a robust fourth quarter for Amazon.com as sales and net income showed substantial increases.
For the three month period ended December 31, 2017, net sales were $60.5 billion, up 38% when compared to the first quarter of the previous fiscal year. Net income was $1.9 billion, or $3.75 per diluted share, compared with net income of $749 million, or $1.54 per diluted share, for the fourth quarter of 2016.
Net sales for the full year were up 31% to $177.9 billion with yearly net income coming in at $3 billion, or $6.15 per diluted share, compared with net income of $2.4 billion, or $4.90 per diluted share, in 2016.
In announcing its financial results, Jeff Bezos, company CEO, highlighted the continued growth of its Alexa platform. He noted there are now more than 30,000 skills from outside developers that work with Alexa, allowing consumers to control more than 4,000 smart home devices from 1,200 unique brands.
Looking ahead, Amazon said it expects first quarter net sales to be between $47.75 billion and $50.75 billion with operating income expected to be between $300 million and $1 billion.