Amazon Made More Money During The Pandemic Than It Has In Three Years

Amazon’s net income rose to $8.107 billion, or $15.79 per share, in the first quarter of this year.

Amazon, the world’s largest online retailer, posted net income of $26.9 billion in the 12 months ended March 31, up from $24.7 billion in the three full years before the coronavirus pandemic (2017–2019), MarketWatch reported.

In the first quarter of this year, Amazon’s net income rose to $8.107 billion, or $15.79 per share, up from $2.535 billion, or $5.01 per share, in the same period last year.

Revenue rose 44% to €108.518 billion from $75.452 billion a year earlier. Excluding exchange rate movements, it rose by 41%.

The company’s revenue thus surpassed the $100 billion mark for the second consecutive quarter. It is also expected to stay above that level this quarter as the coronavirus pandemic gave an unprecedented boost to online commerce.

Amazon’s stock price rose in electronic trading Thursday after the release of the reports. The online retailer’s market value has increased 47% over the past year and now stands at $1.74 trillion.