Walmart had better watch out. A company this big shouldn’t be able to grow this fast—but Amazon’s 38% revenue growth in 2020 has the Seattle company creeping closer to the top of the Fortune 500. For years a money loser, Amazon earned $21.3 billion in profit on more than $386 billion in annual sales. As the pandemic forced everyone online, the Everything Store won big. The e-tailer’s Prime delivery and entertainment service gained 50 million subscribers year over year, for a total of more than 200 million global customers. CEO Jeff Bezos picked a banner year to step down from leading day-to-day operations; he’ll be handing the title to Andy Jassy, currently boss of the ultra-profitable Amazon Web Services unit, in the second half of 2021.
Lists ranking Amazon
World’s Most Admired Companies - 2021After a year in which humanity leaned more heavily...READ MOREview in list
Latest news for Amazon
- TechAmazon brings its palm-scanning tech to live music venue Red RocksSeptember 14, 2021 7:30 PM UTC
- RetailAmazon looks to hire 125,000 new workers, surpassing 1 million employeesSeptember 14, 2021 3:01 PM UTC