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Amazon raises stakes for rivals with 1-day delivery goal after profit surge

Updated : April 26, 2019 06:31 AM IST

Shares rose as much as 2 percent in after-hours trade on Thursday as Amazon said faster shipping will come to customers around the world and said its profit more than doubled in the first quarter, trouncing estimates thanks to soaring demand for its cloud and ad services.
Amazon expects to spend $800 million toward the shipping goal in the second quarter alone.
The company plans to spend more to roll out benefits to international Prime members. Hiring would also pick up from the 12 percent increase Amazon posted in the past 12 months, according to Olsavsky.
Amazon raises stakes for rivals with 1-day delivery goal after profit surge
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