Amazon: annual net income 2004-2020
In 2020, online retail platform Amazon reported a net income of 21.33 billion U.S. dollars, up from a 11.6 billion U.S. dollar net income in the previous year. During the same fiscal period, the company’s revenue amounted to more than 386 billion U.S. dollars.
Amazon’s other businesses Due to the company’s financial resources, Amazon has the capability to invest in new products and markets, such as online and offline grocery sales. In June 2017, Amazon purchased grocery retailer Whole Foods Market for 13.7 billion U.S. dollars, the company’s most expensive acquisition by far. This acquisition was primarily a move to expand the company's online grocery business, one of the fastest growing online shopping trends in the United States.
Amazon Web Services
The Seattle-based company does not rely on retailing alone to generate profits. Amazon’s cloud business, AWS, is the one segment raking in steady profits with a 13.53 billion U.S. dollar operating income in the most recently reported year. The annual revenue of the business segment came to 35.03 billion U.S. dollars in 2019. As of the second quarter 2020, Amazon Web Services accounted for 33 percent of the global cloud infrastructure service market.Amazon’s other businesses Due to the company’s financial resources, Amazon has the capability to invest in new products and markets, such as online and offline grocery sales. In June 2017, Amazon purchased grocery retailer Whole Foods Market for 13.7 billion U.S. dollars, the company’s most expensive acquisition by far. This acquisition was primarily a move to expand the company's online grocery business, one of the fastest growing online shopping trends in the United States.
