Amazon's shares have risen by more than 60 per cent this year, adding to the wealth of Mr Bezos, its biggest stockholder. The S&P 500 is virtually flat.
Amazon's cloud services also saw higher demand as companies switched to virtual offices in the pandemic. Revenue from Amazon Web Services , which sells data storage and computing power in the cloud, rose nearly 29 per cent to US$10.81 billion. "Everyone was looking for masks; everyone was looking for gloves; everyone was buying groceries online. That mix is not super profitable," he said."What we saw in Q2 was not only did the mix start to shift back to a more normal mix" but that"we also were able to ship a lot more than we had originally thought".
The company forecast net sales of US$87 billion to US$93 billion for the third quarter, ahead of analysts' expectations of US$86.34 billion, according to IBES data.
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