, Columnist
Amazon’s Retail Business Has a Secret Weapon
Advertising registers almost as a footnote, yet it is a true sign of strength.
Prime gets shoppers to the platform. Vendors pay for the privilege to reach them.
Photographer: Daniel Acker/Bloomberg
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Another blowout quarter for Amazon.com Inc. earnings spurred a 10% jump in its shares in post-market trading, pushing the retail giant’s value past $1 trillion.
To gauge just how powerful Amazon.com Inc. truly is, though, look beyond its market cap, top-line sales or membership revenue and look at the so-called Amazon Tax.