Amazon’s devices have pushed profits through the roof, while its Echo speaker is selling so well the company can’t keep up with demand.
It’s been a very good quarter indeed for Amazon. The online retail giant recently announced net revenue of $29.1 billion and net income of $513 million.
Considering that this time last year it posted a $53 million loss, that’s pretty good going.
One of the key reasons for these impressive figures, according to Amazon CEO and founder Jeff Bezos, is the success of the company’s devices.
“Amazon devices are the top selling products on Amazon, and customers purchased more than twice as many Fire tablets than first quarter last year,” said Bezos.
Even more notable is the fact that Amazon is struggling to keep up with demand for its Echo speaker. Initially considered a niche product and a curious experiment, the living-room personal assistant has really captured the public’s imagination.
“We can’t yet manage to keep it in stock despite all efforts,” admitted Bezos.
Related: What is Amazon Echo with Alexa?
Amazon has steadily built out the feature set of its Echo speaker and its pre-installed virtual assistant, Alexa. It can now order you an Uber cab or a Domino’s pizza, or play you a Spotify playlist.
Amazon recently expanded the Echo range to include the Amazon Tap and the Amazon Echo Dot, both smaller versions of the 10-inch-tall cylindrical home assistant.
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Given that the Alexa is still only available in the US, its stock shortages don’t bode well for a UK rollout any time soon. Or is that one of the reasons Amazon is so low on stock? Here’s hoping.