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Amazon posts record Q2 earnings as online sales soar 48% amid Covid-19

Rival brick-and-mortar retailers shut stores in lockdowns for coronavirus, as Amazon hired 175,000 people and saw demand for its services soar

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Amazon | Jeff Bezos Amazon | Q2 results

Jeffrey Dastin & Akanksha Rana | Reuters 

Amazon.com 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 ...

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First Published: Fri, July 31 2020. 09:38 IST
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