Bumper christmas season returns Amazon to $1trn valuation

By William Smith
Amazon has announced its fourth quarter results for January 2020, with the ecommerce firm bucking the trend of struggling retail organisations worldwide...

Amazon has announced its fourth quarter results for January 2020, with the ecommerce firm bucking the trend of struggling retail organisations worldwide.

The quarter ended 31 December 2019, and thus includes the lucrative Christmas season. Key takeaways include the fact that, year-on-year, quarterly sales rose by 21% to $87.4bn. For 2019 as a whole, net sales were up 20%, reaching $280.5bn.

In an earnings call with shareholders, Amazon’s Senior Vice President and Chief Financial Officer, Brian T. Ovlasky, put the company’s success down to a combination of factors. “I would not isolate it to any one set of customers or products. I think it's been pretty broad-based and it's kind of the combination of a lot of work on adding new products and features, adding to our sales and marketing teams and having better penetration in enterprise customers and hitting a lot of varied, and different industries.”

SEE ALSO:

The company also forecast its results for the first quarter of 2020, expecting them to be up between 16 and 22% year on year.

In a press release accompanying the news, Amazon’s CEO Jeff Bezos said that “more people joined Prime this quarter than ever before, and we now have over 150 million paid Prime members around the world,” and also hailed the success of the company’s video division: “Prime members watched double the hours of original movies and TV shows on Prime Video this quarter compared to last year, and Amazon Originals received a record 88 nominations and 26 wins at major awards shows.”

The results have returned Amazon to the $1trn club, alongside the likes of Apple, Microsoft and recently, Alphabet Inc.

(Image: Amazon)

Share

Featured Articles

No going back on e-commerce - FedEx Express AMEA CEO

FedEx Express survey shows that SMEs and consumers in AMEA region feel there’s room for further growth in the already booming e-commerce market

Behavioural science 'key to procurement change' - Loseby

David Loseby of Suppeco tells the Supply Chain Digital show why behavioural science has a vital role to play in procurement digital transformation

Walgreens CPO Jim Townsend to speak at Procurement LIVE

Walgreens Boots Alliance Chief Procurement Officer Jim Townsend will be speaking at Procurement & Supply Chain LIVE London on 13 October

Managing risk 'crucial' - Gartner Supply Chain Symposium

Supply Chain Risk Management

Air cargo resilience is focus of World Cargo Symposium

Logistics

Sustainability measurements lacking, says EY survey

Sustainability