Amazon, a company with thousands of employees in Iasi, reported revenue and profit beyond expectations

Amazon, with thousands of employees in Iasi, reported, on Thursday, revenues and profit over estimates for the first quarter, information that led to the increase of the e-commerce company’s shares by up to 4%, after the closing of the New York stock exchange, CNBC reports.

The company, owned by Jef Bezos, the richest man on earth, had revenues of $ 108.52 billion, compared to analysts’ average estimate of $ 104.47 billion. Earnings per share are $ 15.79, above the estimate of $ 9.54.

Few companies have benefited from the increase in online commerce during the Covid-19 pandemic, as did Amazon. The first quarter results show that the company’s business continues to be supported by the pandemic, with revenues advancing 44% year-on-year to $ 108.5 billion.

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Net profit more than tripled to $ 8.1 billion. For the second quarter, Amazon anticipates revenue of $ 110-116 billion, above the Wall Street estimate of $ 108.6 billion.

The company will host the Prime Day discount sales event in June, which will benefit the comparison of revenues with the same period last year. This annual event is usually held in July, but was postponed until October last year due to the pandemic.

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