Amazon Posts Biggest Ever Profits In Its History

Jul. 31, 2020

Even as theCoronavirus pandemichas forced most companies to accept losses or turn less than expected profits, Amazon seems to be the exception to that rule. The online retailer has posted its biggest ever profit in 26 years. As a result, the company’s shares also rose by 5 percent after hours.

Amazon itself had forecast that it might lose money in Q2 because it will spend close to $4 billion on purchasing protective equipment for its staff, and in expenses related to the Coronavirus. However, the company still managed to double its income year over year to $5.2 billion.