Last quarter, Amazon dropped the bomb that , transition to the role of Executive Chairman in the third quarter. For now though, Bezos and his teammates are busy raising money. It is clear that Amazon has been one of the few companies to have benefited from the pandemic, thanks to the rise in online shopping. In the business , Amazon said it made more profits in the past 12 months than in the previous three years.
From April 2020 to March 31, 2021, Amazon collected $ 26.9 billion in profits, while it made $ 24.7 billion in profits between 2017 and 2019. According to the release, net sales increased by 44% to $ 108.5 billion in the first quarter of 2021 (from $ 75.5 billion this time last year). This is the 78th consecutive quarter of double-digit year-over-year growth and the highest growth rate since 2011.
Much of this has been fueled by the huge leap in e-commerce over the past year. At the same time, the company also recently reported over 200 million paid Prime members and 32% revenue growth in its Amazon Web Services cloud division. The AWS unit generated $ 13.5 billion, or 12% of Amazon’s total revenue.
At the same time, however, the company faced intense scrutiny that it treated its workers unfairly. He defeated a union campaign earlier this month, where two-thirds of warehouse workers voted , but there were also accusations that Amazon to do it. The whole battle also shed light on the company that could treat its employees unfairly by imposing tough productivity quotas and .
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