Despite the COVID-19 pandemic, Amazon had a fantastic year in 2020.
As the pandemic continued to accelerate Amazon’s online business, the company’s cloud and advertisement businesses, profits more than tripled in the first quarter of 2021.
The company released its financial results for the first quarter of 2021, revealing that net revenues totaled $108.5 billion, exceeding the $104.5 billion forecasted by analysts.
That’s up from $75.5 billion in the first quarter of last year, a 44 percent rise.
During the third quarter, Amazon Web Services recorded net revenue of $13.5 billion, up 32% year over year.
Amazon currently has more than 200 million paying Prime members, and Prime Video streaming hours have increased by more than 70% year over year.
Amazon Web Services, the company’s cloud arm and biggest source of revenue, recorded net revenue of $13.5 billion in the third quarter, up 32 percent year over year.
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