It is making more money than ever
Amazon reported its profit doubled since last year to a staggering $5.2 billion, as the e-commerce giant’s earnings report blew past expectations. Net sales increased 40% to $88.9 billion and net profit cruised to a new record, according to the earnings report released Thursday.
During the second quarter of 2020, Amazon “increased its grocery delivery capacity by over 160%” and tripled its grocery pickup locations. Customers responded, with online grocery sales tripling in the second quarter compared to the same time in 2019.
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