Amazon continues to reap advantages from pandemic as revenue greater than triples


Amazon’s pandemic increase is not displaying indicators of slowing down.

The corporate mentioned Thursday that its first-quarter revenue greater than tripled from a yr in the past, fueled by the expansion of on-line procuring.

It additionally posted income of greater than $100 billion, the second quarter in row that the corporate has handed that milestone.

Amazon is without doubt one of the few retailers that has benefited through the pandemic. As bodily shops briefly closed, folks caught at dwelling turned to Amazon to purchase groceries, cleansing provides and extra. That does not appear to be dying down.

Within the first three months of this yr, the corporate reported revenue of $8.1 billion, in comparison with $2.5 billion the yr earlier than.

Earnings per share got here to $15.79, about $6 extra per share than what Wall Road analysts anticipated, in keeping with FactSet.

Income jumped 44 per cent to $108.5 billion.

(Solely the headline and film of this report could have been reworked by the Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)

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