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Q2 sales surge 40% at Amazon, while profits double

Retail giant reports Q2 sales rise to $88.9 billion, while net profit for period stands at $5.2 billion.

Amazon continues to be one of the companies prospering during the COVID-19 pandemic, with the retailer reporting its Q2 sales soared by 40%.

The retailer saw sales for the second quarter ending June 30 grow by 40% to $88.9 billion – analysts’ estimates had been $81.24 billion. Meanwhile, net profits for the period doubled to $5.2 billion.

The company also confirmed that it spent over $4 billion on incremental COVID-19-related costs during the quarter. These included adding additional safety measures at its numerous warehouses and facilities, buying personal protective equipment for its workers and paying a $500 million ‘thank you bonus’ to logistics and delivery drivers.

In a statement, Jeff Bezo, ceo and founder of Amazon, also said that the company created over 175,000 new jobs since March. It is looking to bring 125,000 of those employees into regular, full time positions.

“This was another highly unusual quarter, and I couldn’t be more proud of and grateful to our employees around the globe,” Jeff stated.

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