Amazon reporting profit tripled
Amazon continued to benefit from the world-wide increase of e-shopping during the pandemic with strong rise in sales and tripled profits reported for Q1. The report came in the same week as the other big platforms all reported strong sales during the pandemic. Amazon said the company expects the strong sales to continue at least for the next few months.
Revenue was up from USD 75 billion in Q1 last year to USD 108.5 billion. Profit was USD 8.1 billion, up from USD 2.5 billion a year ago.
CEO Jeff Bezos, who soon will change to the position as executive chairman, stressed the company’s streaming service Prime Video and webservice division AWS emphasizing that Amazon is also a content provider in the media business.
“As Prime Video turns 10, over 175 million Prime members have streamed shows and movies in the past year, and streaming hours are up more than 70% year over year,” he said.
He said AWS had grown in its first 15 years to deliver USD 54 billion annual sales “competing against the world’s largest technology companies.”
Bezos will be succeeded as CEO by AWS director Andy Jassy.
The group will continue to extend shopping services and platforms, including Amazon Scout, an electric autonomous delivery system that “rolls down the sidewalk at walking pace and delivers items right to customers”. Scout is already used in four US states.
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