Amazon brings in $108.5 billion USD in Q1 2021, Prime Day is in June

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Surprising nobody, Amazon had a incredible Q1 in 2021 with $108.5 billion USD ($133 billion CAD) in income.

The firm’s gross sales have ballooned up 44 p.c in comparison with Q1 2020, when the pandemic began final 12 months. According to CNBC, the corporate expects this rising momentum to proceed into the following quarter.

One huge piece of stories that the corporate did let slip is that Prime Day is being moved to a brand new spot in June. The firm often holds Prime Day in July. That stated, final 12 months because of the pandemic, it needed to push again the gross sales occasion till mid-October.

The firm is hoping to check out this new June gross sales occasion to see how properly it really works this 12 months. If I needed to guess, based mostly on earlier rumours, it could make sense for Amazon to maneuver Prime day ahead in order that it will possibly maintain one other gross sales day within the fall to compete with retail shops that financial institution on Black Friday.

Outside of its retail enterprise, Amazon’s cloud and promoting sectors are additionally up. Amazon Web Services had internet gross sales of $13.5 billion, up 32 p.c in comparison with final 12 months’s Q1 outcomes.

One of the extra fascinating elements to come back out of the earnings was how properly Prime Video is doing. Bezos instructed buyers that over 175 million Prime subscribers streamed exhibits and flicks on the service within the final 12 months. This is up 70 p.c in comparison with Q1 2020. This is a large chunk of the 200 million Prime subscribers all over the world.

Source: CNBC

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Written by Gideon


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