Amazon, the largest e-commerce company in the US. Surpassed $100 billion in sales (about 111 trillion won) for the second consecutive quarter. With this Amazon, stocks are all high.
Amazon announced on the 29th (local time) that in the first quarter of this year. It posted sales of 108.5 billion dollars, up 44% from the same period last year.
Actually, This is a surprise performance, exceeding the Wall Street forecast of $10.44 billion. In terms of quarterly sales, it is the second-largest ever, following $125 billion in the fourth quarter of last year.
Amazon Net Worth
Net profit was $8.1 billion, an increase of 224% from the same period last year. The New York Times reported that “the number of items sold on Amazon increased by 44% from a year ago.”
In addition, its flagship e-commerce business, the company has achieved good results in both the cloud (virtual server)’ business and the online advertising business, which is the number one in the global market.
The first-quarter sales of Amazon Web Services, a cloud, were $13.5 billion, and advertising sales were $6.9 billion. US CNBC predicted that “Amazon’s second-quarter sales will be between $110 billion and $116 billion, surpassing the $108.6 billion originally predicted on Wall Street.” Amazon’s share price has risen close to 5% in after-hours trading.
The company has announced that it will actively improve the treatment of its employees based on its good performance. Amazon’s founder Jeff Bezos recently said, “I will be the best employer on the planet,” after Amazon’s warehouse workers voted down to form a union.
Furthuremore, The company first decided to increase the hourly wage by $0.5 to $3 per hour for 500,000 workers in the United States. It is expected to incur additional costs of over $1 billion per year. With 800,000 full-time workers in the U.S., Amazon is the second-largest employer in the U.S. after Wal-Mart (1.6 million).
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