Amazon reports 15% rise in Q4 revenues

Amazon has reported a 15% rise in revenues during the fourth quarter of 2014 to $29.33bn, compared to $25.59bn it reported during the corresponding quarter last year.

The online retailer reported a net profit of $214m for the last three months of 2014, which is a decline of $25m over same quarter in 2013. It was, however, an improvement on the previous quarter, in which Amazon made a net loss of $437m.

Despite the 20% rise in revenues to $88.99bn for the overall year, Amazon reported three losing quarters out of four, leading to a loss of $241m, compared to a net gain of $274m the previous year.

The company expects the profits may be materially hit by many factors including varying foreign exchange rates, transformations in global economic conditions and consumer spending, world events in addition to the rate of growth of the Internet and online commerce.

During the year, Amazon reported a global 53% rise in paid membership for its Prime service, which combines delivery of physical goods and digital media. founder and CEO Jeff Bezos said: "The data is in and customers agree — on a base of tens of millions, worldwide paid membership grew 53% last year — 50% in the U.S. and even a bit faster outside the U.S."

"Prime is a one-of-a-kind, all-you-can-eat, physical-digital hybrid — in 2014 alone we paid billions of dollars for Prime shipping and invested $1.3 billion in Prime Instant Video. We’ll continue to work hard for our Prime members."

Recently, Amazon surpassed rival entertainment retailers including Tesco & HMV and captured a quarter of sales of physical video games, films and music in the UK.

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