Amazon had another strong holiday season: Its quarterly profit topped $3 billion for the first time as revenue grew across many of its businesses, including online shopping, advertising and cloud computing. Amazon executives attributed the softness in this quarter to uncertainty about how new e-commerce rules in India could hurt sales in that country. Amazon, which recently surpassed Microsoft as the most valuable company in the U.S., reported net income of $3.03 billion during the last three months of 2018. During the holidays, Amazon said a record number of people signed up for its Prime membership, but it didn't provide specific numbers. If adjusted, the company said Whole Foods sales would be up about 6 percent.

Source: ABC News January 31, 2019 21:44 UTC