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Amazon profit doubles to a record high, Prime customers to get free one-day shipping

Amazon.com Inc. doubled its profit in the first three months of 2019, but will shave into its growing earnings in order to chop the delivery time for Prime customers in half.

Amazon AMZN, +0.03% on Thursday reported record earnings for the fourth consecutive quarter, but projected a sharp reduction in operating profit for the current period. When analysts asked about the guidance on a conference call Thursday afternoon, Chief Financial Officer Brian Olsavsky revealed that Amazon expects to spend about $800 million to change Prime free delivery times from two days to one.

“We’re currently working on evolving our Prime free two-day shipping program to be a free one-day shipping program,” Olsavsky said.

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