Amazon confirms Prime Day for later this quarter as revenue grows to $108B - braxtonlinceres

Amazon has just announced its Q1 2020 financial profits, reporting a material gain in earnings. That includes a 44% year-over-year increase in sales, which helped Amazon fall much $108 billion in revenue. The growth is undoubtedly a result of the current COVID-19 pandemic, which led to more online shopping in some countries that faced lockdowns. It also shows its continued strength as it prepares for the upcoming transition to its new CEO-elect.

Amazon CFO Brian Osofsky discussed how the company expects this strong momentum to continue in Q2, despite the pandemic seemingly winding down and more countries starting to open improving. One major reason for this is Amazon First Day, which was pushed to October 2020 due to the pandemic. The ii-day gross revenue event has been rumored to pass off this June, which Osofsky hinted to in the earnings call:

July is a hulky holiday month, thusly it might be better to have for customers, sellers, and vendors to experiment with a different sentence period. We experimented the other way, obviously in 2020, away impressive it into October, but we consider that it might be better timing, later in Q2. And so that's what we're testing this year.

The time period Prime Day event provides unshared sales connected many products and services. It's also a big opportunity for small and medium businesses, which ready up a large add up of Amazon's third-party sellers and helped drive a 29% Q1 revenue growth in North American alone. A specific date wasn't announced during the prognosticate, but we should expect details about Prime Day soon, given that Q2 ends subsequently June.

Otherwise highlights from Q1 remuneration include lower-than-expected COVID-19-related operating costs and high tax revenue from AWS, which grew 32% yr-over-year to $13.5 billion and undoubtedly continues to benefit from the epidemic as companies and employees continue to operate largely from home. AWS likewise benefits from services like Disney+ that depend on Amazon's cloud infrastructure, especially as more users take to video flowing. Connected the streaming front, Amazon Premier Video, which is included with the Amazon Prime subscription, besides sawing machine a 70% increase in moving hours, a metric that closely doubled for Twitch.

Going away forward, Amazon hopes to continue improving its delivery times, which were challenged by the increment in online shopping but should improve thanks to initiatives like In-Garage Grocery Delivery. Information technology too remains focused on improving its AI capabilities on the outdo Alexa devices and looks forward to new cognitive content for Premier Video, such A the Lord of the Rings cast that's currently in yield.

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