The Latest: Amazon Prime to be 1-day shipping instead of 2
NEW YORK (AP) — The Latest on Amazon’s first quarter earnings (all times local):
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6:00 p.m.
Amazon says its free shipping for Prime members will be even faster, promising one-day shipping on most items instead of two-day delivery.
The company didn’t say when the change would happen, but says it has been growing its warehouses and shipping network to offer faster deliveries.
Amazon has long offered delivery in a day or quicker for some items, but the change will mean free one-day shipping will be the default, rather than two-day.
The move is likely to put even more pressure on big retailers, which have been racing to ship faster to catch up with Amazon.
Amazon says it will offer one-day shipping to its Prime members around the world.
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4:30 p.m.
Amazon’s push into advertising and cloud computing is paying off, helping the online shopping giant’s first quarter profit more than double from a year ago.
The Seattle-based company on Thursday reported net income of $3.56 billion, or $7.09 per share, for the first three months of the year.
That beat expectations of $4.61 per share, according to Zacks Investment Research. In the same time a year ago, it reported net income of $1.63 billion, or $3.27 per share.
Revenue rose 17% to $59.7 billion, which also beat Wall Street expectations.
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