31st July 2021, Mumbai:
The second quarter profits of Amazon increased by 48 percent from a year ago to $7.8 billion. The company’s total revenues rose by 27per cent to $113.1 billion, $2 billion below most Wall Street forecasts. The results included the company’s earnings from major tech firms.
As per Andy Jassy, CEO, the company focused on delivering goods and services for consumers during the pandemic. Its cloud computing division AWS helped many businesses and governments maintain business continuity. A growing number of consumers turned to Amazon during the pandemic for delivery of goods and services including groceries, and its cloud computing division also helped businesses and consumers stay connected.
Amazon has also been expanding its streaming television and artificial intelligence operations. Over the years, the company has grown into one of the world's most valuable companies with operations in dozens of countries and a market value of some $1.8 trillion and 1.3 million employees.
TOP 5:
• PLI for Textiles: The conundrum of optimising production build up v/s battering exports
• Fabindia launches new sub-brand ‘FabNU’
• Welspun India, global leader in Home textiles, announced its Q4FY21 results
• Gokaldas Exports FY22 Q1 income reaches Rs 242.98 crore
• The fifth Northeast India Traditional Fashion Week is now in progress
