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Net sales of 4q20 were $125.6 billion, and Bezos will resign as CEO From Amazon

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On February 3, 2021, Amazon, the online retail giant, announced its financial results for the fourth quarter of fiscal year 2019 after the US stock market closed on Tuesday (early morning of Beijing time on Wednesday). In addition, Amazon announced in its financial report that its founder and CEO, Jeff Bezos, will be re appointed as executive chairman in the third quarter, when Andy Jassy will take over as CEO.

According to the report, Amazon’s net sales in the fourth quarter were US $125.6 billion, an increase of 44% compared with us $87.4 billion in the same period of last year, a year-on-year increase of 42% excluding the impact of exchange rate changes, exceeding Wall Street analysts’ expectations; its net profit was us $7.2 billion, an increase of 121% compared with us $3.3 billion in the same period of last year; and its diluted earnings per share was US $14.09, much higher than analysts’ expectations, which is comparable Compared with the same period last year, it was $6.47.

Amazon shares rose 0.3% to $3390 per share after the earnings report.

Summary of fourth quarter results:

Amazon’s net sales in the fourth quarter were US $125.6 billion, up 44% from US $87.4 billion in the same period last year. Excluding the impact of exchange rate changes, Amazon’s net sales increased 42% year-on-year, exceeding Wall Street analysts’ expectations.

Amazon’s net product sales in the fourth quarter were $71.056 billion, up from $50.542 billion in the same period last year, and its net service sales were $54.499 billion, up from $36.895 billion in the same period last year.

Amazon’s fourth quarter net profit was $7.2 billion, up 121% from $3.3 billion in the same period last year, and its diluted earnings per share was $14.09, far exceeding analysts’ expectations, compared with $6.47 in the same period last year.

Analysts expect:

Analysts had expected Amazon’s fourth quarter revenue to reach $119.7 billion on average, according to FactSet, a financial information provider.

Analysts had expected Amazon’s fourth quarter diluted earnings per share to reach $7.23 on average, according to FactSet.

Results of departments in the fourth quarter:

– by region and business category:

Amazon’s net sales from North America in the fourth quarter were $75.346 billion, up 40% from $53.670 billion in the same period of last year, accounting for 60% of the total net sales, compared with 61% in the same period of last year.

Amazon’s net sales from international regions in the fourth quarter were US $37.467 billion, up 57% from US $23.813 billion in the same period of last year, accounting for 30% of the total net sales, compared with 27% in the same period of last year.

Amazon’s net sales from Amazon’s Web services (AWS) in the fourth quarter were $12.742 billion, up 28% from $9.954 billion in the same period last year, accounting for 10% of the total net sales, compared with 12% in the same period last year.

– by products and services:

Amazon’s net sales from online stores in the fourth quarter were $66.451 billion, up 46% from $45.657 billion in the same period last year.

Amazon’s net sales from physical stores in the fourth quarter were $4.022 billion, down 8% from $4.363 billion a year earlier.

Amazon’s net sales from third-party seller services in the fourth quarter were $27.327 billion, up 57% from $17.446 billion in the same period last year.

Amazon’s fourth quarter net sales from subscription services were $7.061 billion, up 35% from $5.235 billion a year earlier.

Amazon’s net sales from Amazon’s Web services in the fourth quarter were $12.742 billion, up 28% from $9.954 billion in the same period last year.

Amazon’s net sales from other businesses in the fourth quarter were $7.952 billion, up 66% from $4.782 billion in the same period last year.

Other financial information for the fourth quarter:

– operating cash flow and free cash flow:

In the 12 months ended December 31, 2019, Amazon’s operating cash flow was $66.1 billion, an increase of 72% over the same period last year, compared with $38.5 billion in the 12 months ended December 31, 2019.

Amazon’s free cash flow for the 12 months ended December 31, 2019 was $31 billion, up from a year earlier, compared with $25.8 billion for the 12 months ended December 31, 2019.

After deducting principal repayment, Amazon’s free cash flow in the past 12 months was US $20.3 billion, higher than that in the same period of last year, compared with us $16.2 billion in the 12 months ended December 31, 2019.

After deducting principal repayments and assets acquired under capital leases, Amazon’s free cash flow in the past 12 months was $21.4 billion, higher than that in the same period last year, compared with $12.5 billion in the 12 months ended December 31, 2019.

– operating expenses:

Amazon’s total operating expenses in the fourth quarter were $118.682 billion, up from $83.558 billion in the same period last year. Among them:

Revenue cost was $79.284 billion, up from $53.977 billion in the same period last year;

The cost of fulfilling the contract was 18.474 billion US dollars, higher than that of 12.192 billion US dollars in the same period of last year;

The expenditure on technology and content was 12.049 billion US dollars, up from 9.740 billion US dollars in the same period last year;

Marketing spending was $7.403 billion, up from $6.172 billion in the same period last year;

General and management expenses were $1.968 billion, up from $1.412 billion in the same period last year.

Other operating income was $496 million, compared with other operating expenses of $65 million in the same period last year.

2020 performance summary:

Amazon’s net sales in 2020 were $386.064 billion, up from $280.522 billion in 2019.

Amazon’s net product sales in 2020 were US $215.915 billion, higher than US $160.408 billion in 2019; its net service sales were US $170.149 billion, higher than US $120.114 billion in 2019.

Amazon’s net profit in 2020 was US $21331 million, compared with us $11588 million in 2019; its diluted earnings per share was US $41.83, compared with us $23.01 in 2019.

Performance of all departments in 2020:

– by region and business category:

Amazon’s net sales from North America in 2020 were US $236.262 billion, up 38% from US $170.773 billion in 2019, accounting for 61% of the total net sales, compared with 61% in 2019.

Amazon’s net sales from the international region in 2020 will be $104.412 billion, an increase of 40% compared with $74.723 billion in 2019, accounting for 27% of the total net sales, compared with 27% in 2019.

Amazon’s net sales from Amazon Web services (AWS) in 2020 were US $45.370 billion, up 30% from US $35.026 billion in 2019, accounting for 12% of the total net sales, compared with 12% in 2019.

Performance Outlook:

Amazon’s outlook for the first quarter of fy2021 is as follows:

Net sales are expected to reach $100 billion to $106 billion, up 33% to 40% year-on-year, with a value of $103 billion exceeding analysts’ expectations. Analysts had expected Amazon’s fourth quarter revenue to reach $95.7 billion on average, according to FactSet.

Operating profit is expected to reach between $3 billion and $6.5 billion, compared with $4 billion in the same period of 2019

Stock price reaction:

Amazon shares rose 1.1% to close at $3380 in regular trading on the U.S. stock market.

Amazon’s shares rose 1.4% to $3426.99 after the earnings report.

The first strategy of this year is to ensure the safety of employees and customers Amazon: 3q20 financial report teleconference record the second and third quarter orders are too large to “overdraw” all warehousing Alibaba: 3q20 revenue 221.084 billion yuan Year on year growth of 37% pinduoduo: 2q20 revenue 12.193 billion yuan year on year growth of 67% Amazon: 1q20 net sales of 75.5 billion US dollars year on year growth of 26% Amazon: 3q20 net sales of 96.1 billion US dollars year on year growth of 37% Alibaba: 2q21 revenue of 155.06 billion yuan year on year growth of 30% Alibaba: 2q21 financial report teleconference record community group buying market is still in the white hot stage Jingdong: 3q20 net revenue of 174.2 billion yuan Year on year growth of 29.2% Bezos annual shareholder letter: Amazon has 840000 employees who will conduct regular tests on all employees Amazon: 4q19 financial report teleconference record AWS’s product portfolio is in a leading position in the market Amazon: net sales of 4q19 is US $87.4 billion, with a year-on-year growth of 21% Amazon: senior executives interpret 3q19 financial report Consumers are very satisfied with the delivery on the same day. Amazon: 1q20 financial report teleconference record: inspection cost of US $300 million in the second quarter, 95000 new recruits in April

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