The company was launched by founder Jeff Bezos in 1994 as an online bookstore, but has since ballooned into the world’s largest e-commerce company that sells virtually everything, including electronics, apparel, furniture, food, toys, and much more.
In addition to e-commerce, Amazon’s revenue comes from subscription services, cloud computing services, Whole Foods grocery sales, and other areas. It also builds and sells its own consumer electronicsÂ such as the Amazon Kindle and Amazon Echo. Amazon Web Services is the world’s largest seller of cloud computing services. The company’s entertainment streaming service also produces its own movies and TV shows, and Amazon Music provides access to millions of songs.
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Amazon’s Latest Developments
- On October 29, 2020, Amazon reported EPS that far surpassed analysts’ expectations in Q3 2020. Total revenue and AWS revenue also exceeded the levels forecast by analysts. EPS soared on robust revenue growth compared to the year-ago quarter. AWS revenue was also higher compared to the same quarter a year ago. Amazon announced that it is creating hundreds of thousands of new jobs across the world as it expands operations.