Amazon more than doubled its quarterly profit compared to the corresponding period in 2019.
According to Arabiya Net, the company said that it made profits of $ 7.2 billion for the fourth quarter of last year, compared to $ 3.3 billion compared to the same period. >
The company achieved quarterly revenues of more than $ 125 billion, the highest in the company's history.
On the other hand, Amazon announced that Jeff Bezos, CEO of Amazon, will step down later this year and hand the helm to Andy Gacy , While Bezos will move to the board of directors of Amazon.
Gacy joined Amazon in 1997 and led the cloud web services team at Amazon since its inception.
In an email to employees, Bezos said: Amazonians, I am delighted to announce that starting in the third quarter of this year, I will move to the CEO position of 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 has been working for it for a long time.
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Bezos founded Amazon in 1993 with his ex-wife MacKenzie, and became the world's richest man with a net worth of $ 185 billion.
Amazon's share price 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.
