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On Thursday, April 29, the largest e-commerce and tech giant, Amazon made a huge announcement for its users and stakeholders. The tech giant went ahead and shared the sales results it achieved for the first quarter of the year 2021.
The results that Amazon shared were all in greens and impressed the shareholders so much that more investment is coming to the platform. On Friday, April 30, it was reported that the Amazon share price experienced a 3% increase. The surge was observed after a day when Amazon announced its sales figures for Q1 2021.
The sales figures achieved by Amazon in Q1 2021 have even exceeded the figures predicted by the Wall Street analysts.
The stats show that the expected shared price for the first quarter of 2021 was $9.54 per share. However, the actual share price achieved by Amazon by the end of March 31 was $15.79 per share.
As for revenue, the stats that the company expected to achieve in the first quarter was $104.47 billion, while the achieved revenue was $108.52 billion.
Amazon is not the only company that has gained so much prominence and growth during the pandemic. Several companies providing the same online and similar services have reported the same gains for the first quarter of 2021.
Just like Amazon, these companies have confirmed their sales surged during the pandemic and continue to rise. Amazon has revealed the same and has reported that its sales are surging with every new quarter.
The company has confirmed that compared to the first quarter of 2020, 2021’s first quarter has gained a 44% increase in sales.
Now the real question is if the situation will remain the same in the second quarter of 2021. The analysts at Amazon are confident that the sales in the 2nd quarter of 2021 will continue to surge. This information injects a lot of confidence among the Amazon investors.
Many investors had shown their concern about the second quarter that the company will not be making as many sales as it has achieved in the first quarter.
However, the report from the Amazon analysts tells a different story and goes on to claim that Q2 sales will demonstrate an uptrend.
According to Amazon analysts’ forecast, the company has expected to hit a revenue figure between $110 billion and $116 billion.
This means that the company now expects to achieve at least $1.5 billion more than it did in the first quarter of 2021.
Amazon has also confirmed details around its Prime Day and Two-Day Discount Bonanza. The tech giant has confirmed that Prime Day will take place in June while the latter is set to take place in October 2021.
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