Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Amazon profit soars more than 200% in the first quarter

Amazon profit soars more than 200% in the first quarter

Amazon's profits more than tripled in the first quarter of 2021, as the pandemic continued to boost its online retail, cloud and advertising businesses.
The tech giant on Thursday reported a whopping $8.1 billion in quarterly net income, up 224% from the same period in the prior year, crushing Wall Street analysts' prediction of $4.98 billion. Earnings hit $15.79 per diluted share.

Total net sales from the quarter grew 44% from the year-ago period to $108.5 billion, also beating the $104.5 billion analysts had projected.

Amazon (AMZN) shares spiked as much as 4% in after-hours trading.

"Amazon has the almost perfect business for the world right now," James Harris, global chief strategy officer at Mindshare Worldwide, said in an email following the report. "The world's leading e-commerce platform, a growing cloud business and a smaller but growing advertising capability all working in unison. It's a compelling offer."

The company's cloud unit and biggest money maker, Amazon Web Services, posted net sales of $13.5 billion during the quarter, up 32% year-over-year.

That's an acceleration in growth from the prior quarter as more companies adopt the technology to help manage hybrid workforces.

Among the other highlights from the quarter: Amazon now has more than 200 million paid Prime subscribers and streaming hours on Prime Video are up more than 70% year-over-year.

Despite a tough year-over-year comparison because of the surge in demand the pandemic caused in 2020, Amazon still expects net sales between $110 and $116 billion, up 24% to 30% from the same period in the prior year, during the second quarter of 2021. That's assuming that its annual Prime Day event occurs during the quarter as normal.

On Wednesday, the day before the earnings report, Amazon announced it would spend $1 billion to raise wages for more than 500,000 hourly workers by as much as $3 an hour as it continues its hiring push that has elevated its global workforce beyond 1.3 million people globally. The company will not, however, increase its $15 per hour minimum wage.

Earlier in the first quarter, Amazon faced a landmark union drive at a warehouse in Alabama that drew intense scrutiny to its labor practices. Despite popular support from celebrities and even US President Joe Biden, the union vote was unsuccessful.

The latter part of this year will bring a major leadership shakeup at the company, as Amazon founder Jeff Bezos steps down from his role as chief executive, to be replaced by current Amazon Web Services CEO Andy Jassy, and the cloud unit gets a new leader.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
×