Amazon seems to be on a roll as their profit in the quarter year has been 8.1 billion dollars which is just insane as compared to the 2.5 billion dollars which were their profit in the last three months of the last year.
Even the shares of amazon have jumped up to 5% which just shows that corona has played a big role as people have been buying everything from Amazon because going out to buy the essentials has also become a thing that people prefer to do on Amazon these days because of the coronavirus.
This has been claimed by Amazon itself and they have also stated clearly that this has happened because of the boom in online sales which has happened because of the pandemic situation which has made people to but essential products also from Amazon only which has played a big part in the huge profit that the company is going through right now.
They have scored a total revenue of 108.5 billion which means that they are seeing an increase of 44% if you compare the last year’s stats that they had at the same time. The real-world stores have been canceled out because of the pandemic situation that the world is going through,
The quarter profit for the company has been 8.1 billion dollars as compared to the billions they made in the last three months of the last year.
Even the web services that Amazon offers which is about hosting services and the data on the internet are also seeing a quarterly profit of 13.5 billion dollars as compared to the 10.2 billion dollars which happened during the first quarter of the year 2020.
Many of the big e- tech firms have been seeing a whopping revenue since the pandemic has taken place which includes the names such as APPLE, MICROSOFT, FACEBOOK and Google parental alphabet, even these big firms are seeing some big profits as people have been more active on the internet after the pandemic and many have collaborated with these big firms to keep their businesses intact which has also played a big role in the profit advancement of these big companies.
Analyst Nicole Perrin who is a big expert and well renowned in the marketing world has also stated that Amazon is going to have this amazing run for a while now as Amazon has become essential for most of the houses and the profit is going to increase more as the pandemic situation seems to increase for a while now.