Amazon surpasses $100B in quarterly revenue for 1st time

San Francisco, Feb 3 : After Apple, Amazon became the second US tech company to log its largest quarter by revenue of all time at $125.56 billion, as online shopping broke all records in the holiday quarter (October-December period) amid the Covid-19 pandemic.
The company doubled its net income to $7.2 billion for the quarter, compared to $3.3 billion for the same period in 2019.
Amazon’s full-year 2020 net sales were up 38 per cent, to $386.1 billion.
The Amazon stock were up 1 per cent in extended trading on Tuesday.
Amazon also announced that Jeff Bezos will transition to the role of Executive Chair in the third quarter of 2021 and Andy Jassy, CEO of AWS, will become Chief Executive Officer at that time.
“Amazon is what it is because of invention. We do crazy things together and then make them normal. We pioneered customer reviews, 1-Click, personalized recommendations, Prime’s insanely-fast shipping, Just Walk Out shopping, the Climate Pledge, Kindle, Alexa, marketplace, infrastructure cloud computing, Career Choice, and much more,” said Bezos who founded Amazon in 1994.