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Amazon sales exceeded $ 100 billion in the first quarter

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Amazon achieved great success in 2020, despite the Coronavirus pandemic, and this path shows no signs of stopping for 2021.

And the company got involved Their results Fiscal year for the first quarter of 2021, with $ 108.5 billion in net sales.

This number represents a 44 percent increase from the $ 75.5 billion reported in the first quarter of last year, as the epidemic began to spread globally.

Amazon’s Q2 guidelines indicate that it expects momentum to continue, which should help assuage investor concerns that business may slow down in the post-pandemic environment.

The company expects to generate revenues between $ 110 billion and $ 116 billion, beating Wall Street’s forecast of $ 108.6 billion.

Amazon confirmed in its guidance that this year’s Prime Day event will be held in June, which will likely help make year-on-year comparisons of revenue in the second quarter.

The annual Prime Day event is usually held for two days in July, but the company has postponed the event to October of last year amid the uncertainty related to the pandemic.

Outside of the primary retail sector, Amazon’s cloud computing and advertising business continues to thrive.

AWS saw net sales of $ 13.5 billion during the quarter, up 32 percent year-on-year. Amazon does not disclose ad sales, but it is included in the company’s “other” category, which saw its earnings grow 77 percent year-on-year to 6.9 billion. Dollars.

Amazon CEO Jeff Bezos also provided a rare glimpse of how the company’s live streaming service, Prime Video, has performed during the pandemic, as consumers have relied on online entertainment.

In the earnings statement, Bezos said: With the Prime Video service reaching its age of 10, more than 175 million Prime members have broadcast shows and movies in the past year, and their broadcast hours have increased by more than 70 percent year on year.

The Prime subscription costs about $ 119 a year and includes a host of other benefits, such as free shipping for two days.

Bezos revealed earlier this month that the company now has 200 million Prime subscribers, 50 million more than it did at the start of 2020.

Revenue from physical stores, which includes Whole Foods Market and other offerings, such as Amazon Books, continued to decline, with sales falling 16 percent to $ 3.9 billion.

Amazon sales grew internationally during the quarter faster than in North America.

International revenue increased 60 percent year-on-year, while North America revenue was up 40 percent.

The company refused to talk about plans to replace the CEO of Amazon, which comes into effect as soon as Bezos steps down in the third quarter, as he hands over the helm of leadership to Andy Gacy, CEO of AWS, with Bezos assuming the role of CEO of the Amazon Board of Directors.

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