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Offbeat Amazon share rises after exchange: Amazon doubles quarterly profit

09:11  31 july  2020
09:11  31 july  2020 Source:   finanzen.net

US tech giants bloom in the midst of the corona crisis on

 US tech giants bloom in the midst of the corona crisis on © Reuters / REUTERS FILE PHOTO FILE PHOTO: The logos of Amazon Apple Facebook and Google San Francisco (Reuters) - US technology companies such as Apple, Google and Facebook have performed surprisingly well in the second business quarter shaped by the corona pandemic. In the midst of the worst US economic downturn since the Great Depression of the 1930s, the Internet giant Amazon even posted the highest profit in its 26-year company history.

Amazon shared its Q2 2020 quarterly results, and despite CEO Jeff Bezos predicting a rough quarter , the company’s profit almost doubled year-over-year. Share All sharing options for: Amazon doubled its profit during a pandemic.

Amazon doubles quarterly profit despite Covid spending. Amazon 's profits soared in its second quarter , despite heavy costs related to the coronavirus Amazon reported a huge beat across the board for its second quarter earnings on Thursday. The results show how Amazon is proving to be

FCC approves Amazon’s internet-from-space Kuiper constellation of 3,236 satellites .
Though there are caveats to the approvalThe company plans to send the satellites to three different altitudes, and it claims it needs just 578 satellites in orbit to begin service, according to an FCC document announcing the approval. Amazon has not announced which launch provider it plans to use to fly the satellites into orbit yet. While Amazon CEO Jeff Bezos also owns the rocket company Blue Origin, the launch provider will have to compete to launch the satellites along with other companies.

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