The 44% year-over-year quarterly growth would be significant to any business, but when the underlying numbers are that high, it is considered astonishing.
Amazon’s revenue was $ 108.5 billion in the first quarter compared to $ 75.5 billion a year ago. In doing so, Amazon set a new record for the Seattle-based e-commerce giant and gave a glimpse into its strong position as the world emerged from the pandemic.
The company is cutting its spending on COVID-19 initiatives, but online consumer buying habits appear to have changed permanently.
The result: Profits more than tripled from $ 2.5 billion a year ago to $ 8.1 billion.
The impact of this structural change on Amazon’s bottom line is the major impact on its first quarter results. Published Thursday afternoon.
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