What simply happened? The pandemic has decimated many businesses and industries, but some companies take benefitted from the increase in dwelling-based working, shopping, and entertainment. It'due south been an especially lucrative time for Amazon, whose profits during the first three months of this twelvemonth more than tripled to $8.1 billion.

In its Q1 2022 fiscal results, Amazon revealed information technology generated $108.5 billion in net sales throughout the quarter. That's upward 44% from the $75.v billion made during the same catamenia last year. Its net income was even more impressive: rising from $two.5 billion in Q1 2022 to $8.1 billion.

Every bit with other streaming services, the pandemic saw a jump in the number of people using Prime Video. "As Prime Video turns 10, over 175 one thousand thousand Prime members take streamed shows and movies in the past year, and streaming hours are up more than seventy% year over year," said Jeff Bezos, who will be stepping down as CEO this summer to get the company's executive chairman. Amazon Web Services' (AWS) chief executive Andy Jassy will supervene upon him.

AWS, which has long been a massive earner for the company, grew 32% and at present brings in $54 billion annually. The visitor'southward ad business organisation sales, meanwhile, were up 77%.

Amazon expects its next quarter to be even more successful, with net sales landing somewhere between $110 billion and $116 billion.

Information technology appears that the negative publicity Amazon attracts doesn't put people off using its slew of services. The company'south reputation for poor working weather wasn't helped past a report claiming delivery staff must concord to AI surveillance or risk losing their jobs. Amazon as well sparked a Twitter war after claiming employees didn't urinate in bottles, and it had to deal with the unionization push at an Alabama fulfillment heart, which was voted down.