Amazon reports first quarter profits up 220% compared to last year, in online pandemic buying boom
Amazon reports $108 billion in sales and $8.1 billion in profit in the first three months of 2021.
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Amazon reports profits increased 220% in the first three months of this year, compared to the same period last year – showing the online retailer and marketplace's growing dominance and profitability during the pandemic in which consumers worldwide relied more on internet shopping.
The company on Thursday reported $108 billion in sales and $8.1 billion in profit, equalling the triple-digit percentage increase, for the first three months of 2021.
"We certainly had strong volumes really across all of our businesses," said Amazon’s finance chief, Brian Olsavsky, according to The New York Times.
The high volume of orders during the pandemic has let Amazon run its warehouses at near full capacity. During the pandemic, drivers have made more stops to customers than before, with data showing they're spending less time driving between customers, showing more people are using their delivery services.
The reports say that the pandemics shift to remote computing also helped sales. Amazon reported its web services has $13.5 billion in sales for the quarter.
Amazon founder Jeff Bezos is considered the most wealth person in the world, with an estimated network of $201 billion.
Last month, workers at an Amazon warehouse in Alabama voted against forming a union, amid employee complaints across the country about general working conditions and those during the pandemic including health and safety, long-hours, and few breaks.
The 26-year-old company is the United States' second-largest employer, employs more than 950,000 full- and part-time workers in the country and nearly 1.3 million worldwide, according to the Associated Press.