Technology

Amazon holiday quarter profit doubles

Amazon holiday quarter profit doubles

Amazon has reported its profit doubled to $14 billion in the crucial holiday quarter, giving a boost to jittery markets that expected less due to higher labor, sourcing and delivery costs. The e-commerce colossus said its net sales climbed to $137 billion, and its profit benefited greatly from a return on investment in electric vehicle maker Rivian, which went public in November.

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