Amazon’s profit more than triples as pandemic boom continues

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Amazon’s Profit More Than Triples As Pandemic Boom Continues Amazon’s Profit More Than Triples As Pandemic Boom Continues
Amazon stock, © PA Wire/PA Images
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By Joseph Pisani, Associated Press

Amazon’s pandemic boom is not showing signs of slowing down.

The company said on Thursday that its first-quarter profit more than tripled from a year ago, fuelled by the growth of online shopping.

It also posted revenue of more than 100 billion dollars, the second quarter in row that the company has passed that milestone.


Amazon fulfillment centre in Swansea (Ben Birchall/PA)

Amazon is one of the few retailers that has benefited during the pandemic. As physical stores temporarily closed, people stuck at home turned to Amazon to buy groceries, cleaning supplies and more.

In the first three months of this year, the company reported profit of 8.1 billion dollars (£5.8 billion), compared to 2.5 billion dollars (£1.8 billion) the year before.

Earnings per share came to 15.79 dollars, about six dollars more per share than what Wall Street analysts expected, according to FactSet.

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Revenue jumped 44% to 108.5 billion dollars (£77.5 billion).

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