Record revenue for Amazon in Q4 2020
A day full of news for Amazon. Yesterday, the retailer and tech giant, announced 2020 fourth-quarter earnings which topped expectations.
Amazon posted its most considerable revenue to date of $125.56 billion, higher than the $119.7 billion forecasted. The EPS came in almost double than the $7.23 consensus, at $14.09. The results were driven by a “record-breaking holiday season,” when it delivered more than one billion items worldwide.
Amazon expects a slowdown in sales in the first quarter of 2021, which is forecasted to reach a high of $106 billion. Experts see it at $95.8 billion.
Besides the earnings, another announcement hit the wires. Jeff Bezos, the founder and CEO of Amazon, said that would leave his office later this year transitioning to the position of executive chairman of the company’s board. He will leave the company which passed the $1 trillion market cap threshold to Andy Jassy, Amazon’s top cloud executive. Jassy, who has been part of the Amazon team since 1997, will officially become CEO in the third quarter.
Following the news, Amazon stock price gained about 1%. Year-to-date the share price went up nearly 4%, while in the past twelve months it reported a 70% increase.
Sources: nytimes.com, cnbc.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.