Amazon remains highly popular even though margins have fallen
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Online retailer Amazon sees quarterly profits halve, after higher taxes and investment over the holiday period.
Net income fell to $98m (£49m) in the three months to 31 December from $199m a year earlier, but sales rose 34%.
Though lower, profits beat expectations and the firm posted stronger than expected annual forecasts, sending shares 6% higher in after-hours trade.
Amazon has invested heavily to expand beyond books, but this has eaten into profit margins in recent months.
Amazon said revenue would be between $13bn to $13.7bn for this year, above analyst expectations.
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