The pandemic has been very profitable for Amazon.com Inc.

Amazon AMZN,
-0.11%
reported $ 8.11 billion in profit for the first quarter on Thursday afternoon, again beating expectations as the company continues to provide services that are desperately needed during the COVID-19 pandemic, namely e-commerce and cloud computing. For the twelve months ended March 31, Amazon posted net income of approximately $ 26.9 billion, which included most of the impact of the pandemic in the US and areas other than China.

That’s more than Amazon’s profit for the past three full years from 2017 to 2019, which was roughly $ 24.7 billion. And those three years were Amazon’s most profitable in its history, after decades of focusing more on growth than profit as it expanded its warehouse and logistics systems for the delivery of goods sold on its website, as well as its data center network for Amazon Web Cloud -Computing offer of services. Until the end of 2019 …

.



Source link

Leave a Reply