{"id":37604,"date":"2020-07-30T23:42:00","date_gmt":"2020-07-30T20:42:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/amazons-sales-and-profits-soar-as-lockdowns-keep-shoppers-online\/"},"modified":"2020-07-30T23:42:00","modified_gmt":"2020-07-30T20:42:00","slug":"amazons-sales-and-profits-soar-as-lockdowns-keep-shoppers-online","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/amazons-sales-and-profits-soar-as-lockdowns-keep-shoppers-online\/","title":{"rendered":"#Amazon\u2019s sales and profits soar as lockdowns keep shoppers online"},"content":{"rendered":"

“#Amazon\u2019s sales and profits soar as lockdowns keep shoppers online<\/strong>”<\/p>\n

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July 30, 2020 |<\/span> 4:42pm <\/p>\n

\n Amazon reported blowout sales and profits on Thursday as coronavirus lockdowns kept shoppers buying everything from diapers to groceries on the web.<\/p>\n

The Seattle-based e-tailing giant\u00a0\u2014 whose billionaire boss Jeff Bezos weathered a grilling on Capitol Hill Thursday, with top lawmakers probing the company\u2019s fierce competitive practices \u2014 shattered Wall Street\u2019s expectations for the quarter, reporting earnings per share of $10.30 while analysts had been expecting just $1.46.<\/p>\n

Amazon\u2019s revenue clocked in at $88.9 billion, beating forecasts of $81.2 billion.<\/p>\n

The company\u2019s shares in after-hours trading were up 5.5 percent at 3,219.79.<\/p>\n

Amazon has been a major beneficiary of extended lockdowns due to the pandemic, with revenue climbing\u00a0<\/strong>as customers have increasingly shunned brick-and-mortar stores in favor of home delivery.<\/p>\n

\u201cThis was another highly unusual quarter, and I couldn\u2019t be more proud of and grateful to our employees around the globe,\u201d Bezos said in a statement, adding that Amazon has created \u201cover 175,000 new jobs since March\u201d and is working to turn 125,000 of the workers into full-time employees.<\/p>\n

The company\u2019s Amazon Web Services cloud computing business missed forecasts, however, bringing in $10.8 billion in revenue versus the predicted $11 billion.<\/p>\n

The company\u2019s stock is up more than 30 percent since its last earnings report at the end of April, and more than 70 percent since Covid-19 related lockdowns began in the United States in March.<\/p>\n

The stock climb has allowed Bezos to run away with the title of world\u2019s richest man, with his $182 billion fortune putting him $69 billion ahead of No. 2 Bill Gates. Just over $170 billion of his net worth is Amazon stock, while the rest comes from his Blue Origin rocket company and personal cash and assets, according to Bloomberg.<\/p>\n

For Bezos to become the first person with a net worth of $200 billion, Amazon\u2019s stock would need to climb just over $3,400. It finished at $3,051.88 at Thursday\u2019s close, but climbed\u00a05 percent in extended trading, to $3,205.54.<\/p>\n

Bezos last quarter warned investors that Amazon would be spending the entirety of its $4 billion operating profit on safety measures to protect its massive workforce, with investments ranging from\u00a0personal protective equipment for its hundreds of thousands of employees, \u201cenhanced cleaning\u201d of its facilities, higher wages for hourly workers as well as \u201chundreds of millions\u201d of dollars to develop its coronavirus testing capabilities.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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If you want to read more Business News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Amazon\u2019s sales and profits soar as lockdowns keep shoppers online” July 30, 2020 | 4:42pm Amazon reported blowout sales and profits on Thursday as coronavirus lockdowns kept shoppers buying everything from diapers to groceries on the web. The Seattle-based e-tailing giant\u00a0\u2014 whose billionaire boss Jeff Bezos weathered a grilling on Capitol Hill Thursday, with top…<\/p>\n","protected":false},"author":1,"featured_media":37605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[46579],"class_list":["post-37604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-amazons-sales-and-profits-soar-as-lockdowns-keep-shoppers-online"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/37604","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=37604"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/37604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/37605"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=37604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=37604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=37604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}