Amazon just reached a major business milestone: The company surpassed $100 billion in revenue in 2015 — generating $107 billion, to be precise.
The news came as Amazon reported earnings for its fourth quarter. Amazon reported $35.7 billion in sales for quarter, compared to $29.3 billion during the same quarter last year. Net income was $482 million a year, compared to $214 million a year ago. This represents earnings of $1.00 per diluted share, compared to $0.45 per share a year ago.
For the full year of 2015, Amazon reported $107 billion in revenue, compared to $88.99 billion in 2014. This represents a 26 percent growth, compared to the 20 percent it achieved a year ago — at least if one ignores the exchange ratings impact that have been a sore spot for a number of tech companies this earnings season, including most recently Apple.
The huge growth during the company’s fourth quarter also helped Amazon to become profitable in 2015, generating $596 million in net profits for the year, compared to a net loss of $241 million in 2014.
However, investors had hoped for an even bigger upside, with some analysts expecting earnings of $1.56 for the fourth quarter. Stock fell close to 15 percent in after-hours trading after the release of the earnings results.
A few of the finer points of the Amazon earnings:
The company’s cloud business, which counts Netflix amongst its biggest customers, continues to do well. Amazon Web Services, grew to $2.4 billion in sales during the most recent quarter, compared to $1.4 billion during the same quarter a year ago. For the full year of 2015, AWS generated around $7.9 billion in revenue, compared to $4.7 billion a year ago.
Amazon says that it nearly doubled customer base of Prime video in international markets in 2015, and that viewing hours more than doubled globally year over year. As for Prime itself, it grew 47 percent in the U.S. and 51 percent worldwide in 2015. The company also said that Prime Music streaming hours “more than tripled” in the U.S. in its fourth quarter when compared to the same quarter a year ago.
Amazon also claim that its Fire TV device “remains the #1 best-selling streaming media player in the U.S.”, which could have to do with the fact that the company booted Apple TV and Chromecast from its website.