FIRST AIRED: April 27, 2018

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Transcript

00:00:01
>> Amazon shares hitting a new record high on Friday after its first quarter earnings blew past all expectations. The ecommerce giant reported a 43% surge in revenue on Thursday thanks to strong online shopping and higher demand for its cloud services, AWS. Reuters correspondent Jeffrey Daston.>> One of the most striking details about Amazon's earning report was the strength of its advertising business.
00:00:26
So Amazon sells essentially ad real estate on its website so that a brand can have customers discover their product before someone else, if they win an auction, to have a sponsored result. And that business grew 139%, year over year.>> Prime, Amazon's loyalty club that includes free shipping, video streaming and other benefits, has been key to the jump in revenue.
00:00:52
Members, now more than 100 million strong globally, spend above average on Amazon. The price of that membership is going up by $20 to 119 a year. Analysts are praising the hike, believing it will give Amazon a war chest to fight off a potential price increase from the US postal service after Twitter rants by President Trump.