Emirates – Amazon records sales of 96.1 billion dollars and record profits in the third quarter – economic – the world today

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(MENAFN – Al-Bayan) Date: October 30, 2020 Technology giant Amazon Inc. announced net sales of $ 96.1 billion on Thursday as the boom in online shopping linked to the pandemic continues to boost the company’s business.

Amazon sales for the third quarter of 2020 jumped by 37 percent, compared to the same period in 2019, and the company achieved a record profit of $ 6.3 billion for the quarter, which is nearly three times Amazon’s profits in the same quarter of last year.

The report hit analysts ’previous expectations, with earnings per share of $ 12.37, compared to $ 7,41 per share.

Amazon experienced rapid growth in sales during the Coronavirus pandemic, as many stores closed their doors to personal shopping and customers sought to find alternatives online for fear of contracting the Coronavirus in a physical store.

Amazon CEO Jeff Bezos said the holiday season is likely to break records. The company expected sales of between $ 112 billion and $ 121 billion in the fourth quarter.

“We are seeing more customers shopping early for holiday gifts, and this is just one of the signs that this will be an unprecedented holiday season,” Bezos said.

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