Categories: Business

Amazon posts biggest profit ever in US

Photo: AP

Amazon posts biggest profit ever in US

new Delhi. The compulsion of people to remain locked at home amid the Corona crisis has become a boon for the online sales platform. According to the results released by Amazon, in the second quarter ended in June, the company has recorded a record profit so far in the US, while in international business, the company has come in profit for the first time in years. In the second quarter, total sales of the company increased by 40 per cent to $ 88.9 billion. The company's sales stood at $ 63.4 billion in the second quarter of last year. At the same time, the company's profit almost doubled to reach the level of $ 5.2 billion.

During the quarter, the company reported a profit of $ 345 million in international business. For the first time in the last several years, the company has posted profits through business in other countries. In the March quarter, the company reported a loss of $ 400 million in international business, $ 61 million in December quarter and $ 600 million in international business in the second quarter of last year. The company has incurred losses in this segment for the past several quarters and on a quarterly basis, it reached $ 90 million. According to the company, due to the Corona crisis, people have changed their modalities in the midst of changing circumstances, which has benefited them. However the company also changed its strategies during this period. At that time many companies were doing layoffs. Amazon has recruited thousands in view of the demand. Europe, India and Japan have a major stake in the company's international business.

This post was published on July 31, 2020 9:49 am

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