A record quarter for e-commerce giant Amazon amid continued closures around the world following the Corona virus. The company earned $ 14.6 per share, twice what was expected in the markets (which forecast earnings of about $ 7 per share).
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The company’s revenues also surpassed the early forecast and amounted to $ 126 billion compared to $ 120 billion. In the same quarter, the company generated $ 87 billion and in the previous quarter $ 93 billion. That is, its revenue rate is 50% in an annual outline, a rate that cannot be continued but does help to describe the company’s delusional growth rate. This is the first time the company has crossed the $ 100 billion revenue threshold in just one quarter. The same threshold that Apple also crossed for the first time in the current quarter.
It is no secret that the online sales rate is biting into physical sales and of course the closure that forces citizens to stay home only increases the process. Although the US holiday season data included in the last quarter report indicated that sales were not made at a pace similar to previous years. These data have created concern among analysts and hence lowering expectations for Amazon’s current report.
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