The focus on faster deliveries to customers seems to have paid off. Amazon increased its sales by 21 percent compared to the same quarter last year, which is better than analysts expect.
Amazon Web Services’ market-leading cloud service also outperforms forecasts, despite increased competition from heavy names like Microsoft and Google.
The profit impresses
Most impressively, Amazon’s profit, which stands at $ 6.47 per share, far exceeds analysts’ expectations of $ 4:04. The company’s CEO Jeff Bezos, one of the world’s richest men, points out that he has managed to get more customers to pay for so-called premium membership in Amazon Prime.
– More people joined Prime during the quarter than ever before, and we now have 150 million paying members. I would like to extend a big thank you to Amazon employees for your dedicated work in delivering to customers, ”he said in a press release.
Market capitalization over one trillion
After the quarterly report, the share in the stock exchange is rushing. With that, Amazon is reaching a magical limit for the first time: a market capitalization of $ 1 trillion (ie $ 1,000 billion or $ 1,000,000,000 with numbers). Amazon is the sixth company to reach the brink, following Saudi Aramco, Apple, Microsoft, Petro China and Alphabet (Google’s parent company).
Other stock market successes have been rare for Amazon over the past year. 2019 was the worst year for Amazon’s share since 2015.
Facts: Amazon’s report in numbers
Turnover: $ 87.4 billion (Expected according to Factset: $ 86 billion)
Sales, Amazon Web Services: $ 9.95 Billion (Expected by Factset: $ 9.8 Billion)
Earnings per share: $ 6:47 (Expected according to Factset: $ 4:04)