Amazon is set to further reap benefits from the pandemic-fueled growth in online shopping after the US e-commerce giant saw its sales and profits skyrocket in the first quarter of the year.
Amazon was the last of Wall Street’s tech giants to publish its financial results this week, showing how the company performed around one year after the Covid-19 pandemic shut many other businesses. The quarterly report reveals Amazon’s revenue jumped 44% to $108.5 billion, with international sales driving growth more than those in North America. Meanwhile, its net income more than tripled to reach $8.1 billion against $2.5 billion one year ago.
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