In many places the economy collapsed as a result of the corona crisis. But there are also industries that have benefited in the difficult times. For example, it now turns out that the online mail order giant Amazon has been able to make proud profits. Although the US economy as a whole contracted by 32.9 percent, the company was able to make an impressive 5.2 billion US dollars in profits.
Doubling of profit
Before Corona, Amazon was already one of the most successful companies worldwide. But now, the circumstances of the pandemic have played into the hands of the company headed by CEO Jeff Bezos. Amazon doubled its profits to an impressive $5.2 billion. The company’s net sales were 88.91 billion US dollars. This is impressive considering the online retailer’s investment. After all, the company also invested a lot of money. In fact, Amazon had an astonishingly high expenditure of $4 billion. These were mainly spent on new hires and higher pay. With 1 million employees, the shipping giant is now the second largest employer in the entire USA.
For some time now, Jeff Bezos has been one of the most successful entrepreneurs on our planet. So it is not surprising that he is very proud of the economic development of his company. But he also sees himself and Amazon as an opportunity to support others. According to Bezos, the company has created 175,000 new jobs since March 2020. Of these, 125,000 are to remain as regular full-time jobs. Bezos also emphasized the position of third-party suppliers. Thanks to Amazon, they sold far more goods this quarter.