Amazon.com Inc. AMZN 0.60% delivered hovering quarterly gross sales and revenue, main a pack of tech giants on Thursday that reported thriving enterprise throughout the throes of the coronavirus pandemic and highlighting the trade’s central place in enterprise and society at a time of rising concern over its clout.
The success of Amazon, Apple Inc. AAPL 1.21% and Facebook Inc. FB 0.52% within the face of a pandemic that has induced unprecedented financial disruption and hundreds of thousands of job losses reveals how tech giants have turn into much more indispensable at a time when persons are dwelling and dealing extra on-line. The businesses confirmed energy in companies starting from devices and on-line retail to cloud computing and digital promoting.
Amazon reported report income and revenue even because it spent $four billion between April and June to stabilize its provide chain and enhance employee security. The Seattle e-commerce pioneer now employs greater than 1 million employees, the second-largest within the U.S. Amazon reported $88.9 billion in gross sales as a flood of customers grew to rely more than ever on online shopping. Earnings doubled to a report $5.2 billion, far exceeding analyst expectations.