Amazon – The world’s ‘most perfect’ money-making machine: Every business ‘should make money in a pandemic’, earning $ 1.2 billion a day.

During the Covid-19 pandemic, Amazon had no problems making money. CNN stated that once the translation of Covid-19 is over, this company can make even more money.

The latest evidence for this statement is the company’s Q1 business results report. Accordingly, Amazon’s profit tripled to $ 8.1 billion in the first three months of 2021. Sales for the first three months reached $ 108.5 billion, up 44 percent year-on-year. This means that for every passing day, Amazon has grossed about $ 1.2 billion. Company shares hit an all-time high, up almost 2% after the report was released.

“Amazon has a business that is almost perfect for the state of the world today. The world’s leading e-commerce platform, the small but thriving advertising and cloud business. is doing very well, “said expert James Harris.

Here are the details that reinforce the above point:

Retail: Online shopping demand hasn’t slowed, with Amazon’s consumer revenue growing 39% in North America last quarter and 50% globally.

Amazon currently has over 200 million Prime subscribers worldwide. They are also streaming more videos and are setting a massive revenue target during the Prime Day event that takes place later this quarter.

Cloud Computing: AWS providing cloud computing services saw net revenue of $ 13.5 billion in Q1, up 32% year-on-year.

With companies taking more access to cloud computing, Amazon’s prospects for this segment will continue to thrive.

“During the pandemic, we have seen many firms decide that they no longer want to manage their own technology infrastructure. We expect this trend to continue into the post-pandemic period.” CEO Brian Olsavsky said.

In terms of advertising: Advertising revenue is growing rapidly as businesses target customers who spend more time online. The company’s share of digital advertising in the US has surpassed 10% in 2020. The research firm expects revenue from this business segment to reach $ 20 billion this year and exceed $ 30 billion by year. 2023.

“As consumers move to more online spending, transaction and marketing spending will accordingly increase rapidly and the majority will flow into Amazon pockets,” said eMarketer analyst Eric Haggstrom.

That’s good news for CEO Jeff Bezos. He is currently the richest person in the world with a fortune of 202 billion USD according to Bloomberg. Although Bezos publicly announced his plan to step down as CEO and hand the position over to Andy Jassy this year, Jeff’s 11% stake in Amazon will continue to make money for him.

While its business flourishes, Amazon continues to face antitrust allegations and continues to draw attention to the treatment of its employees. Without government intervention, however, Amazon’s dominance will only continue to grow.

Look at the big picture: Amazon is the last major tech company to release its first quarter earnings report for 2021. In total, Facebook, Amazon, Apple, Google and Microsoft made nearly $ 75 billion in the first three months of the year. – A huge number.