Amazon surprised the markets by announcing that it had more than doubled its quarterly profits compared to the corresponding period of 2019.
The company recorded a profit of $ 7.2 billion for the fourth quarter of last year, compared with 3.3 One billion dollars compared to the same period.
The company achieved quarterly revenues of more than 125 billion dollars, the highest in the company’s history.
On the other hand, Amazon announced that Jeff Bezos Later this year, the CEO of Amazon will step down and hand the helm of leadership to Andy Gacy, while Bezos will move to the Amazon board.
Gacy joined Amazon in 1997 and led Amazon’s cloud web services team since its inception.
In an email to employees, Bezos said: “Amazonians, I am delighted to announce that starting from the third quarter of this year I will move to the position of CEO of the Board of Directors. Amazon and Andy Gacy will become CEO. ”
He added:“ With the new position, I intend to focus my energies and interest on new products and early initiatives .. Andy is well known within the company and he used to work for them. Since a long time. ”
Bezos founded the” Amazon “company in 1993 with his ex-wife MacKenzie, and became the richest man in the world with a net worth of $ 185 billion.
The price rose. Amazon shares rose 1.1% after this announcement.
This news coincided with the earnings report in which Amazon recorded record revenues exceeding $ 100 billion for the first time.