Yesterday, one day after members of the United States congress grilled tech leaders including Amazon creator and CEO Jeff Bezos on antitrust problems, the company reported a blow-out quarter that saw its sales rise.
In the three months through June 30, during which large parts of the United States were in lockdown due to Covid-19, Amazon said it sold more than $50 billion in products, a 40%increase over the exact same duration a year back. Overall sales, that include cash it generates from channels such as its cloud-computing service and costs it charges its large marketplace of third-party sellers, increased to $889 billion, far above the $816 billion analysts had anticipated
That implies Amazon surpassed the $874 billion in sales it taped in 2015 during the holidays, when demand usually peaks prior to leveling out again. On the company’s profits call the other day, CFO Brian Olsavsky stated it was “unheard of” to go beyond those sales at this time of year– and then included that next quarter is also on track to exceed that level.