(CNN Money) — Amazon is unstoppable.
Amazon said Thursday it made $1.6 billion in profit during the first three months of 2018, more than double the same period a year earlier, even as it invests in costly fulfillment centers and original programming.READ MORE: Firefighters Battling 2-3 Acre Wildfire In Lake County
The estimate among analysts was that Amazon’s profit would shrink from the prior year.
Amazon’s sales for the quarter hit $51 billion, up 43% year over year, fueled in part by strong growth in its cloud computing business, Amazon Web Services. The division saw sales jump nearly 50%, reaching $5.4 billion.
Shares of Amazon jumped as much as 7% in after hours trading Thursday following the earnings results.UPDATE: Shooting Shuts Down EB Highway 4 In Antioch
The company has been on a roll this year. Amazon has hit new milestones for its stock price, paying subscribers, cloud computing sales and even profit — something which once seemed unthinkable for the company.
Amazon CEO Jeff Bezos revealed in a shareholder letter last week that there are now more than 100 million subscribers for Prime, a $99 annual membership program that offers shipping perks and video streaming.
Amazon Web Services, the company’s cloud computing business, now has a $20 billion annual revenue run rate, Bezos wrote in the same letter.
And Amazon continues to take bold, if somewhat controversial, steps to innovate in retail. It recently opened a convenience store without checkout lines and launched a new service that delivers packages to the trunks of cars for free.MORE NEWS: Police Arrest Teen Suspected In Redwood City Drive-By Shooting
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