Online retailer Amazon soared past analysts’ expectations to rise 31% to $30.4bn in the second quarter. Within that, its profits were $857m, compared with $92m in 2015.
The resulting upswing in its stock has meant, according to the BBC, that company founder Jeff Bezos’s fortune is now estimated at $65.3bn, making him the third richest person in the world. The company has recently launched its Prime offering in India and so it is too early for its revenues there to really make an impact, but this time next year should tell a better story about what entering the second most populous country in the world has meant for it. The company does not separate out its Prime revenues from its overall revenues, but Consumer Intelligence Research Partners estimates suggest that it has 63m people signed up in the US alone and that they spend on average $1,200 there each year compared with a $500 annual spend by non-members.