Amazon (NASDAQ: AMZN) is out with its Q4 earnings report and it is more surprising than equities’ analysts had predicted. The company reported its EPS to be almost 100% more than the estimated consensus.
While the world was struggling to deal with the global pandemic and the related economic crisis that tagged along with it, this global retail brand made its mark in business.
Prior to the release of the earnings report of the final quarter of this ongoing financial year, analysts are heavily looking forward to what this stock had to unfold. Wall Street analysts had expected a huge gain for AMZN stocks but they had misjudged the magnitude as well. AMZN stocks reported +100% EPS than the estimated figure. Its current revenue stands at $6 billion higher than the estimated amount. That means, its 4% higher than what analysts had expected.
Invention Is The Key, Says CEO Bezos Following Extraordinary AMZN Stock Figures
The extraordinary figures demonstrated by this company hints towards a deeper cultural shift that was expedited by the coronavirus pandemic. The shift from physical shops to an overwhelming demand in digital or e-tail markets might be triggered by the Covid-19 pandemic but this was an imminent shift that has been expected to happen gradually across the globe. Over the past year, it has been seen that e-shopping has ramped up overall sales by 44%.
AMZN stock reports prove the fact that they have been able to make the most out of the pandemic crisis and strengthen their sales and customer base through a number of innovative techniques. Amazon CEO Bezos mentioned in a statement that, “Amazon is what it is because of invention.” He further mentions that currently Amazon is at its optimal inventive phase that has made this transition from physical to online shopping.