Amazon reached a record amount of net profit
Amazon's net profit during the crisis was higher than the total profit for the previous three years. According to the results of the 12-month period ended on March 31, it reached $26.9 billion. At the same time, the company's total net profit for the period from 2017 to 2019, inclusive, amounted to $24.7 billion. In the 1-st quarter of this year, Amazon's net income more than tripled year-on-year to $8.1 billion, or $15.79 cents per share. Revenue reached $108.5 billion, which is 44% more than in the corresponding quarter of the previous year.
The company expects that in the 2nd quarter, revenue will exceed the amount of $100 billion for the third time in a row. It will be in the range of $110 billion to $116 billion. Thus, the indicator will show an increase of 24-30% in relation to the volume of revenue in the second quarter of last year. Amazon's market cap has increased to $1.74 trillion, or 47%, over the past 12 months. After the release of the report, the company's securities began to grow in price.