Amazon's profit machine shows little sign of slowing down.
The company said Thursday that it made a record $3.6 billion in profit for the first three months of 2019, more than doubling from $1.6 billion in the year prior. This marks the sixth straight quarter in which Amazon's profits have topped $1 billion and the fourth consecutive quarter of record profits.Shares of Amazon initially rose 3% in after hours trading Thursday following the earnings report, before giving up some of the gains.
Read MoreIts long streak in the black has been fueled by the traction of high-margin businesses, including cloud computing and advertising. Amazon Web Services, which remains the leader in the fast-growing cloud computing market, saw sales surge 41% from the prior year to $7.7 billion, even as it faces stiff competition from Microsoft . The segment now accounts for about half of Amazon's operating income.
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