{"id":169592,"date":"2021-02-03T02:17:00","date_gmt":"2021-02-02T23:17:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/earnings-results-jeff-bezos-to-step-down-as-amazon-ceo-after-record-smashing-2020\/"},"modified":"2021-02-03T02:17:00","modified_gmt":"2021-02-02T23:17:00","slug":"earnings-results-jeff-bezos-to-step-down-as-amazon-ceo-after-record-smashing-2020","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/earnings-results-jeff-bezos-to-step-down-as-amazon-ceo-after-record-smashing-2020\/","title":{"rendered":"#Earnings Results: Jeff Bezos to step down as Amazon CEO after record-smashing 2020"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a0e6f7dfec\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a0e6f7dfec\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/earnings-results-jeff-bezos-to-step-down-as-amazon-ceo-after-record-smashing-2020\/#While_disclosing_its_first_100_billion-plus_sales_quarter_in_history_Amazon_says_next_leader_will_be_Andy_Jassy_the_head_of_Amazon_Web_Services_cloud-computing_segment\" >While disclosing its first $100 billion-plus sales quarter in history, Amazon says next leader will be Andy Jassy, the head of Amazon Web Services cloud-computing segment<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/earnings-results-jeff-bezos-to-step-down-as-amazon-ceo-after-record-smashing-2020\/#Jeremy_C_Owens\" >Jeremy C. Owens<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#Earnings Results: Jeff Bezos to step down as Amazon CEO after record-smashing 2020<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"While_disclosing_its_first_100_billion-plus_sales_quarter_in_history_Amazon_says_next_leader_will_be_Andy_Jassy_the_head_of_Amazon_Web_Services_cloud-computing_segment\"><\/span>\n  While disclosing its first $100 billion-plus sales quarter in history, Amazon says next leader will be Andy Jassy, the head of Amazon Web Services cloud-computing segment<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000152491\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Amazon.com Inc.\u2019s business hit a new level in 2020, and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arently it was enough to convince founder Jeff Bezos it was time to put someone else in charge.<\/p>\n<p> Bezos announced Tuesday afternoon that he will step down as CEO in the third quarter of 2021 and Amazon Web Services head Andy Jassy will take over. In the same release, Bezos revealed that Amazon<br \/>\n        AMZN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210331248\/composite\" class=\"positive\">+1.11%<\/bg-quote><br \/>\n       sales topped $100 billion in a quarter for the first time and earnings reached a record level for the third consecutive quarter, capping a record-breaking year.<\/p>\n<div class=\"paywall\">\n       \u201cWhen you look at our financial results, what you\u2019re actually seeing are the long-run cumulative results of invention,\u201d Bezos said in Tuesday\u2019s announcement. \u201cRight now I see Amazon at its most inventive ever, making it an optimal time for this transition.\u201d <\/p>\n<p>Bezos will remain as executive chairman of the company when Jassy takes the CEO reins. Jassy has led AWS, Amazon\u2019s cloud-computing startup that became a dominant leader in a category it basically created, since its inception.<\/p>\n<p><strong>For more: How Amazon created AWS and changed <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> forever <\/strong><\/p>\n<p>\u201cThose of us who know Andy are excited to see him take on this greater responsibility,\u201d Chief Financial Officer Brian Olsavsky said in a conference call Tuesday. \u201cHe is a visionary leader, a great operator and he understands what makes Amazon such a special innovative company.\u201d  <\/p>\n<p>The change at the top is not the first this year for Amazon, with the CEO of Amazon\u2019s e-commerce business, Jeff Wilke, leaving at the beginning of the year and being replaced by Dave Clark. Amazon did not name a new AWS CEO to replace Jassy, with Olsavsky saying \u201cWe\u2019ll talk more about that in the future, but for today, it\u2019s about Andy and Jeff Bezos.\u201d <\/p>\n<p>Bezos \u201cwill be involved in many large one-way-door issues, as we say, meaning the more important decision things like acquisitions, things like strategies, and going into grocery and other things,\u201d Olsavsky said. \u201cJeff\u2019s always been involved with that and that\u2019s where we\u2019ll keep his time focused on.\u201d <\/p>\n<p>Bezos said in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.aboutamazon.com\/news\/company-news\/email-from-jeff-bezos-to-employees\" class=\"icon none\">a letter to employees<\/a> that he intends \u201cto focus my energies and attention on new products and early initiatives\u201d as executive chairman. <\/p>\n<p>\u201cBeing the CEO of Amazon is a deep responsibility, and it\u2019s consuming. When you have a responsibility like that, it\u2019s hard to put attention on anything else,\u201d Bezos wrote. \u201cAs Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions. I\u2019ve never had more energy, and this isn\u2019t about retiring.\u201d  <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p><strong>See also: Amazon\u2019s stock performance since its IPO makes the S&amp;P 500 look like a flat line <\/strong><\/p>\n<p>At the same time as Bezos\u2019s announcement, Amazon reported fourth-quarter revenue of $125.6 billion, trouncing its own forecast and analysts\u2019 expectations. Profit hit a record for the third consecutive quarter, as the trope about Amazon not being a profitable company completely disappeared as it recorded annual earnings of $21.3 billion, nearly double the $11.59 billion in 2019 profit.<\/p>\n<p>Revenue for 2020 rose to $386.1 billion from $280.5 billion, as Amazon\u2019s focus on online sales and rapid delivery as well as its Amazon Web Services cloud-computing offering found wider acceptance as COVID-19 forced consumers to stay home and businesses to support remote workforces. <\/p>\n<p>For the fourth quarter, Amazon reported earnings of $7.2 billion, or $14.09 a share, up from $6.47 a share in the holiday period a year before. Amazon\u2019s revenue total increased 44% from the previous holiday period\u2019s total of $87.44 billion. Analysts on average expected fourth-quarter earnings of $7.20 a share on sales of $119.72 billion, according to FactSet.<\/p>\n<p>Quarters with more than $100 billion in sales are relatively rare for companies not named Walmart Inc.<br \/>\n        WMT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207374728\/composite\" class=\"positive\">+1.08%<\/bg-quote><span>,<\/span><br \/>\n       which has recorded more than $100 billion in quarterly revenue in every period since mid-2010. Tech\u2019s $1-trillion-plus companies are getting there, however, with Apple Inc.<br \/>\n        AAPL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202934861\/composite\" class=\"positive\">+0.63%<\/bg-quote><br \/>\n       posting its first $100-billion quarter in the same period as Amazon.<\/p>\n<p>Amazon expects to continue putting up $100-billion quarters, guiding for first-quarter sales of $100 billion to $106 billion, up from $75.45 billion in the first quarter of 2019. It is worth noting that executives\u2019 forecasts severely undershot the actual performance amid 2020\u2019s rise \u2014 for example, Amazon guided for fourth-quarter sales of $112 billion to $121 billion.<\/p>\n<p>While Amazon\u2019s financial growth, especially in recent years, has led to huge growth in the company\u2019s valuation and importance, Bezos focused on other initiatives in his letter to employees. While Bezos and Amazon have faced criticism for how employees are treated and the company\u2019s effect on the world writ large, the outgoing CEO pointed to efforts he made on those issues. <\/p>\n<p>\u201cAs Amazon became large, we decided to use our scale and scope to lead on important <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> issues. Two high-impact examples: our $15 minimum wage and the Climate Pledge,\u201d he wrote. \u201cIn both cases, we staked out leadership positions and then asked others to come along with us. In both cases, it\u2019s working. Other large companies are coming our way. I hope you\u2019re proud of that as well.\u201d<\/p>\n<p>Amazon shares bounced between gains and losses of less than 1% in after-hours trading, after gaining 1.1% in the regular session Tuesday. The stock has gained 68.3% in the past 12 months, as the S&amp;P 500 index<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+1.39%<\/bg-quote><br \/>\n       has gained 17%.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jeremy C. Owens\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jeremy_C_Owens\"><\/span>Jeremy C. Owens<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D253AB676AC3%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Earnings Results: Jeff Bezos to step down as Amazon CEO after record-smashing 2020&#8221; While disclosing its first $100 billion-plus sales quarter in history, Amazon says next leader will be Andy Jassy, the head of Amazon Web Services cloud-computing segment Amazon.com Inc.\u2019s business hit a new level in 2020, and apparently it was enough to convince&#8230;<\/p>\n","protected":false},"author":1,"featured_media":169593,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-169592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/169592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=169592"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/169592\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/169593"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=169592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=169592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=169592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}