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A new record quarter for Amazon, which triples its profit

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A new record quarter for Amazon, which triples its profit

After the surprise announcement of
departure of Jeff Bezos When presenting the fourth quarter financial results, Amazon returned to its usual communication to discuss the
figures of the first quarter of 2021. Still driven by the massive effects of the pandemic on consumption habits, the e-commerce giant is posting record revenues and profits. Over the period, revenue reached $ 108.5 billion, up 44% year-on-year. Net income simply tripled, from $ 2.5 billion to $ 8.1 billion (+ 220%). Earnings per share stood at $ 15.79 against $ 5.01 a year earlier. Financial markets were counting on $ 9.54 in EPS and $ 104 billion in sales.

Amazon Prime Day 2021 will take place in June

As the operating profit of Amazon’s business in North America nearly tripled to $ 3.45 billion, the cloud computing arm of Amazon Web Services continues to report big, with operating profit of 4 , 16 billion dollars for a turnover of 13.5 billion dollars over the period (+ 32%).

For the second quarter to come, Amazon anticipates a turnover of between 110 and 116 billion dollars. Amazon CFO Brian Olsavsky took the opportunity to announce that the
Prime Day would take place in June this year. Since its inception in 2015, Amazon has held Prime Day in July. But it had been postponed to October last year due to logistical difficulties linked to the pandemic. Amazon says it wants ” tester »The June period because July is a holiday period.

Amazon wants to become ” the best employer on the planet »

The mountains of cash generated by Amazon are drawing attention, and regulators have their sights set on the company. Amazon faces possible antitrust action in the United States and an investigation into working conditions. During the first quarter, the e-tailer avoided the creation of the first union, workers at a warehouse in Bessemer, Alabama (United States), having finally voted against union representation. For now, the company’s US workforce remains unorganized.

During the presentation of its quarterly results, Amazon announced a wave of salary increases for its employees. Hourly wages will increase from 50 cents to $ 3 in May and June. These increases will cost the company approximately $ 1 billion.

In its annual letter to shareholders,
Jeff Bezos said he wanted Amazon to become ” the best employer on the planet and the safest workplace on the planet “. In particular, the company has made efforts to reduce musculoskeletal disorders in its warehouses, and says its prevention initiatives are already reducing injuries such as sprains and strains. Amazon did not wish to communicate on the budget allocated to this project to be the best place to work in the world but stressed that the company is already proud of the working conditions it offers its employees.

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Article from CNET.com adapted by CNETFrance

Image : James Martin/CNET

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