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Amazon stock gains 5% before hours after posting biggest profit in pandemic

Amazon stock news

“(Reuters) – Inc on Thursday posted the biggest profit in its 26-year history as online sales and its lucrative business supporting third-party merchants surged during the coronavirus pandemic.

Shares of Amazon, the world’s largest online retailer, rose 5% in after-hours trade.

While rival brick-and-mortar retailers have had to shut stores during government-imposed lockdowns, Amazon hired 175,000 people in recent months and saw demand for its services soar. The company said revenue jumped 40% from a year earlier to $88.9 billion.

Amazon had forecast it might lose money in the just-ended second quarter because it expected to spend some $4 billion on protective equipment for staff and other expenses related to COVID-19. It did just that – and still earned $5.2 billion – double its net income from a year prior.

Jeff Bezos, who founded the company in July 1994 and is the world’s richest person, said in a statement, “This was another highly unusual quarter.”

Amazon’s shares have risen by more than 60% this year, adding to the wealth of Bezos, its biggest stockholder. The S&P 500 is virtually flat.

Jesse Cohen, senior analyst at, said Amazon’s business model sets it up “to expand its e-commerce dominance even more broadly as the global COVID-19 pandemic continues to flare.”

Online store sales jumped 48% to $45.9 billion in the second quarter. Meanwhile, merchants paid Amazon more to fulfill and sponsor their products in order to reach the company’s loyal customers. That resulted in a 52% and 41% jump in seller services revenue and other revenue such as from ads, respectively.

Amazon’s cloud services also saw higher demand as companies switched to virtual offices in the pandemic. Revenue from Amazon Web Services (AWS), which sells data storage and computing power in the cloud, rose nearly 29% to $10.81 billion.”

Stock market data:

Amazon stock chart

Amazon stock chart
Amazon stock chart

Stock market data: Stocks charts

AMZN stock news for June 13, 2020

Amazon (AMZN) stock news

Amazon’s business practices examined by two U.S. states.

(Reuters) – State investigators in both California and Washington are examining Amazon (NASDAQ:AMZN)’s business practices, two newspapers reported, citing people familiar with the matter.

The inquiries focus at least in part on how Amazon treats sellers in its online marketplace, the Wall Street Journal and the New York Times (NYSE:NYT) reported on Friday.

Amazon declined to comment on the report of an investigation by California. It was not immediately available for comment outside regular market hours on the Washington review report.

The reports said California state is reviewing Amazon’s practices on selling its own products in competition with third-party vendors. Amazon said its in-house products only account for about 1% of its total annual retail sales.

Washington state is also investigating whether Amazon makes it harder for sellers to list their products on other websites, the NYT reported. The inquiries did not appear to be in advanced stages, the NYT report added, citing sources.”


AMZN stock chart

On Friday, June 12, 2020,, Inc. (AMZN) stock price closed at
2,545.02-12.94 (-0.51%)., Inc. (AMZN) stock chart, Inc. (AMZN) stock chart

Stock market source: Stockscharts

AMZN stock price gained over 2.5% this week, Inc. (AMZN) stock, Inc. (AMZN) stock closed at 1,900.10-55.39 (-2.83%) on Friday, March 27, 2020. AMZN stock for the week gained +2.93%.

AMZN stock daily chart
AMZN stock daily chart

AMZN stock news

Stock market data: MarketWatch, Stockscharts


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Amazon stock closed marginally above 1900 USD

Amazon stock, Inc. (AMZN) stock closed at 1,901.09-22.94 (-1.19%) on Friday, March 6, 2020. It made a bounce off the 1870 level. Still technical analysis for Amazon stock shows a negative MACD crossover. Amazon stock has declined from the recent 2150 level, but it still has a PE Ratio (TTM) 82.62, and a Beta (5Y Monthly) of 1.54. It could have stock price volatility in the near future. Investing in stocks with the latest spike in volatlity adds more risks. Check the Amazon stock chart below, analyze the fundamentals and its valuation before deciding to buy the stock or sell the stock.

Amazon stock chart
Amazon stock chart

Stock market data:, Yahoo Finance