Maker Amazon's profit more than doubles in three months

Amazon reported a bigger-than-expected surge in quarterly profit driven by its cloud-computing services

Amazon reported a bigger-than-expected surge in quarterly profit driven by its cloud-computing services

One of the perks of Amazon's Prime membership is free two-day shipping on Prime-eligible purchases.

USA rivals Walmart and Target Corp have steadily rolled out two-day shipping, albeit on far fewer items than Amazon Prime customers can get at that speed for $119 a year in the United States.

Amazon's latest earnings conference call included the reveal of a major shift for the paid Amazon Prime subscription service: an "evolution" to one-day shipping as a nationwide default.

Olsavsky didn't offer a timeline for the project's roll out, which will begin in the USA, saying "we expect to make steady progress quickly and through the year". That helps Amazon consolidate shipping - and, if customers follow through - may hold down the cost of the new one-day pledge.

"For a long time, Amazon was the only real player in the game", Saunders said.

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Amazon's e-commerce business saw unit sales grow 10 percent during the first three months of the year. Due to the large investment, Amazon predicts its earnings will drop below expectations next quarter.

Amazon expects to spend $800 million next quarter to make the transition. It overhauled the ad business to make it easier for brands and ad agencies to manage marketing campaigns that include search ads on, display ads on websites across the internet, and video ads on properties like IMDB Freedive, a new ad-supported streaming service from Amazon.

Revenue rose 17% to $59.7 billion, which also beat Wall Street expectations. It has expanded its fleet of jets, has plans to open package sorting hubs at two airports and launched a program previous year that allows contractors around the country to deliver Amazon packages in vans stamped with the Amazon smile logo.

Chief Executive Officer Jeff Bezos for years pumped most of the cash generated from Amazon's operations back into new initiatives.

Amazon's "advertising flywheel now appears to be in full effect and will only be a bigger part of the growth story", Andrew Lipsman, an analyst for eMarketer, said in an email.

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While AWS growth slightly slowed to 42 percent on $7.7 billion in sales in Q1, the expansion in the operating margin is the "a result of a lot of the good work on infrastructure and efficiencies", Olsavsky said.

As the company has grown, it has become a clearinghouse for smaller businesses.

Analyst consensus estimates were for revenue of $59.65 billion and EPS of $4.72.

The CFO said Amazon will use its own AMZL logistics as well as third-party carriers to meet its next-day promise.

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