Tech & Science Amazon triples profit - record results in corona crisis

12:00  30 october  2020
12:00  30 october  2020 Source:   t3n.de

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Amazon (AMZN) reports third-quarter results after the bell on Thursday, with investors anticipating another That report is due out tomorrow morning. Meeting those results will help Altria maintain its dividend – although the Yes, shares in Zoom Video have soared during the coronavirus crisis .

Facebook, Alphabet (Google's parent) and Amazon each reported solid growth for the third quarter of 2020 — results that reflect how people worldwide have upped their usage of internet giants' services during the pandemic. The trio each posted revenue and earnings that topped Wall […]

The online retail giant Amazon remains on the road to success in the corona pandemic. The US group delivers another record quarter and expects an "unprecedented" Christmas business.

Amazon geht es finanziell gerade sehr gut. © Shutterstock Amazon is doing very well financially right now.

The trend towards shopping on the Internet is helping the world's largest online retailer Amazon to continue to do brilliant business in the corona crisis. In the third quarter, sales climbed 37 percent over the same period last year to 96.1 billion US dollars (82.3 billion euros), as the company announced on Thursday after the US stock market closed in Seattle. The profit even tripled to the previous record of 6.3 billion dollars.

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Amazon 's profits tripled from a year ago Amazon continued to benefit from shopping trends during the pandemic, reporting record profit and revenue during the third quarter. Apple was the sole tech company to post middling results on Thursday, with the company's profits dipping, largely due to a

Amazon has continued to reap the rewards of a society increasingly dependent on ecommerce — a trend further fueled by the COVID-19 pandemic. It's worth noting that Amazon achieved these results without the benefit of Prime Day, the annual shopping event that is typically held in July.

"We see more customers than ever before who buy gifts early," said Amazon CEO Jeff Bezos . This is an indication that an “unprecedented” Christmas business is imminent. Amazon forecast revenues of between $ 112 and 121 billion for the current quarter, which would correspond to growth of between 28 and 38 percent year-on-year. It would be the first time that the company cracked the sales mark of $ 100 billion.

Video: Increase in sales in retail (SAT.1)

forecasts significantly exceeded

With its delivery services, Amazon had already benefited greatly in the previous quarters from the fact that the demand for orders on the Internet rose sharply during the pandemic. Overall, the quarterly figures clearly exceeded the forecasts of the Wall Street analysts, but investors initially reacted cautiously and even let the share turn into the red after the trading hours. However, the price has risen by more than 70 percent since the beginning of the year.

Amazon's lucrative cloud business with IT services and storage space on the Internet has recently continued to flourish. The AWS platform, which is used by many companies and apps, increased revenues by 29 percent to $ 11.6 billion. Growth thus remained at the level of the previous quarter, but met expectations. Operating profit meanwhile increased by 56 percent to 3.5 billion dollars, which underlines once again what an attractive profit center Amazon's cloud flagship is. dpa

German industry continues to recover from the corona slump .
The insurer Allianz increased its profit in the summer despite the corona crisis. The bottom line was a surplus of almost 2.1 billion euros in the third quarter, around six percent more than a year earlier, as the Dax group announced in Munich. © Bernd Thissen / dpa The construction industry increased its output by 1.5 percent. Nevertheless, Allianz boss Oliver Bäte's management did not come up with a new profit forecast for the current year.

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