E-commerce accelerated throughout the third and 2nd quarters of 2020, when customers sheltered in the home and turned to the web to order items. That acceleration doesn’t appear to have tapered down — at the very least not according to Amazon’s (NASDAQ:AMZN) blowout results that are fourth-quarter. Product sales surged throughout the quarter and earnings per share skyrocketed.
Despite Amazon’s astonishing outcomes, there was clearly a great deal larger news within the e-commerce giant’s fourth-quarter change compared to the business’s strong performance that is financial. At the time of the 3rd quarter of 2021, creator and CEO Jeff Bezos is stepping down from his present role, transitioning into an chairperson position that is administrator.
Why Bezos is stepping down
Bezos has already established quite a run as Amazon’s CEO. The idea of Amazon stumbled on Bezos about 27 years ago. Today, the creator and CEO is amongst the wealthiest people on the planet. He is prepared to move back from the company’s most executive that is important, handing within the reins to Amazon Web Services CEO Andy Jassy.
The founder will invest their time on “new services and products and early initiatives,” Bezos said within an email to workers in Bezos’ new part as executive chairman.
“As Exec Chair i am going to stay engaged in crucial Amazon initiatives but also have actually enough time and power I need to concentrate on the 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other interests,” the founder explained day. “I’ve never had more power, and this isn’t about retiring. I am super passionate about the effect these companies are believed by me may have.”
“Amazon could not be better positioned for the future,” Bezos said in his e-mail. “We are firing on all cylinders, in the same way the world needs us to. We’ve things in the offing that may continue to astonish.”
The company’s fourth-quarter results being monetary figures behind Bezos’ interpretation of the organization’s current state. Revenue during the period surged 44% over 12 months to a record $125.6 billion 12 months. This is certainly up from $87.4 billion into the quarter that is year-ago $96.1 billion within the third quarter of 2020. E-commerce accelerated throughout the third and 2nd quarters.