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Amazon’s online store sales dip below 40% of net sales for first time, and other earnings notes

GeekWire

The chart below is what Amazon’s net sales look like in raw numbers over the past several years, broken down into the major business segments reported by the Seattle-based company. Here are the same results, expressed as a percentage of net sales. Amazon Web Services posted revenue of $22.1

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Amazon delivers big earnings miss, Jassy warns Q4 will bring ‘several billion dollars of additional costs’

GeekWire

Net sales rose 15% to $110.8 For the first time in Amazon’s history, the company’s revenue from online and physical retail store sales represented less than 50% of its overall revenue for the quarter, due to steady increases in areas such as its Amazon Web Services cloud business and revenue from advertising.

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Jeff Bezos to hand over Amazon CEO role to Andy Jassy on July 5, anniversary of company’s creation

GeekWire

Jassy, the longtime leader of the Amazon Web Services cloud business, “is going to be an outstanding leader, and he has my full confidence,” Bezos said. He cited MGM’s “vast deep catalog of much beloved intellectual property” and said Amazon and MGM would “reimagine and develop that IP for the 21st century.”

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Tech Moves: Expedia board director Skip Battle resigns; Madrona promotions; Vacasa’s new CFO

GeekWire

Its net loss for the first nine months of this year was $2.2 ” Sharma joined Madrona last year from Amazon Web Services. Seattle startup Joe Coffee, a mobile order and rewards app for independent coffee retailers, appointed former Lyft Regional Director for the Southeast Sam Bond as its COO. billion in 2019.

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Read Jeff Bezos’ shareholders letter: Amazon founder focuses on employee welfare, comments on union vote

GeekWire

What’s next: Bezos will step down as CEO in the third quarter of this year, replaced by Amazon Web Services chief Andy Jassy. ” Bezos noted that Amazon is developing safety-related solutions to help protect warehouse employees from injury and improve their safety. Our net income in 2020 was $21.3 More than 1.9

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Basically everything on Amazon has become an ad. It’s only the beginning.

Vox

While company founder Jeff Bezos once said that “advertising is the price you pay for having an unremarkable product or service,” Amazon has in recent years become an ad-selling machine, driven by the substantial profit margins and the rising value of digital retail estate on the most popular shopping site in the West.