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Amazon Australia nearly doubles its revenue but fails to turn a profit

Online retail giant Amazon has almost doubled its sales in Australia over the last financial year but is still struggling to turn a profit, company documents show.

In the business’ most recent financial report, filed to the corporate regulator on Friday afternoon, Amazon Australia reported $562 million in revenue for 2019.

Amazon has almost doubled its revenue for the 2019 calendar year.

Amazon has almost doubled its revenue for the 2019 calendar year.

This marks a massive 92.4 per cent increase, or almost double, from the year prior, where Amazon Australia reported revenue of $292 million.

However, the company still failed to post a profit, losing $4.7 million for the year post-tax, a slight improvement on the $5.3 million it lost in 2018. Amazon Australia has never made a profit during its three years in operation locally, losing nearly $9 million in 2017.

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