Amazon Reports Nearly 200%Increase In Profit
AMAZON HAD A BLOWOUT QUARTER AS PEOPLE FLOCKED TO ONLINE SHOPPING
(CNN) – The pandemic is fueling Amazon’s bottom line.
The online giant announced that sales and profit soared in the latest quarter.
During the last three months ending in September; Amazon says sales grew 37%, compared to the same period last year.
Profit during that time increase 197 %to $6.3 billion.
These earnings don’t include Amazon Prime Day, which took place in October.
But not all of Amazon’s businesses saw an increase.
Sales at physical stores, like Whole Foods dropped 10%.