Amazon Stocks on Skywards Fast

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Covid-19 hit hard the entire year of 2020 and it will continue for the next year while waiting for a vaccine to help surpass this pandemic.

The implications of this in the economy are huge, many companies halt their businesses in the second quarter, and the economy goes downward slope.

The situation is rapidly changing every day. Shops goes online, work from home is evolving, video conferencing is rising, and traffics on online platforms takes place. 

In short, we are living in an unpredictable world. 

On the other hand, some companies’ stocks have skyrocketed more and saved a lot during this pandemic. According to the news, Amazon saved almost $1 billion in expenses this year.

Amazon.com, Inc. Common Stock (AMZN)

“There’s some benefits going on right now,” Amazon CFO Brian Olsavsky said on the company’s third-quarter earnings on Thursday. “Travel ground to a halt.”

“Amazon today reported earnings for its third fiscal quarter of 2020, including revenue up 37% to $96.1 billion, net income of $6.3 billion, and earnings per share of $12.37 (compared to revenue of $70.0 billion, net income of $2.1 billion, and earnings per share of $4.23 in Q3 2019). North American sales were up 39% to $59.4 billion, while international sales grew 37% to $25.2 billion.”

Jeff Bezos (Amazon CEO) says that the company had created 400,000 jobs this 2020 so there are 28% increased in the second quarter and with possibilities of a 50% increase by next year. Income goes up to $96.1 billion in third-quarter wherein AWS services made 29% of the total revenues, 33% for subscriptions, and 51% for the remaining businesses. 

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