SEATTLE — Most retailers probably didn’t know much about Andy Jassy before last month. As chief executive officer of its web services division, Jassy was already running Amazon’s most profitable business. But now he steps fully into the spotlight, having been named to succeed Jeff Bezos as Amazon’s CEO. The move will mark the end
When Andy Jassy succeeds Jeff Bezos as chief executive officer of Amazon in the third quarter of 2021, the transition will mark the end of an era at a company that has made it a habit to reexamine customer needs, challenge long-held assumptions and upend established ways of doing business. Amazon’s ability to act as
SEATTLE — Amazon founder Jeff Bezos will step down from his role as chief executive later this year and transition to the role of executive chair, the company reported Tuesday. He will be replaced by Andy Jassy, who currently heads the company’s cloud business, Amazon Web Services. Bezos has been Amazon’s CEO since its founding
SEATTLE – Amazon on Thursday reported a profit of $5.2 billion in the second quarter as net sales soared 40% year on year to $88.9 billion. Amazon’s stellar results were announced on the same day the government reported that the U.S. economy, as measured by gross domestic product, fell 9.5% in the second quarter, as
SEATTLE, Wash. — Amazon.com posted strong sales gains in the first quarter, as consumers forced to stay at home have responded by shopping and spending more with the e-commerce giant. At the same time, Amazon’s costs have risen sharply as well, hurting profits. Net sales increased 26% to $75.5 billion in the first quarter, compared
SEATTLE — Amazon shares rose in after-hours trading Thursday after the company reported fourth quarter results that topped analysts’ expectations. The company reported earnings per share of $6.47 for the quarter, easily beating forecasts of $4.04 per share. Net sales increased 21% to $87.4 billion in the fourth quarter. Net income grew to $3.3 billion
SEATTLE — Amazon’s search for “HQ2” is over. After 14 months of rampant speculation and frenzied media coverage, Amazon revealed that rather than the 50,000-person, $5 billion second headquarters it said it wanted when it launched its search for a second home, the company has settled on two new bases — in the Crystal City
SEATTLE — Amazon has selected New York City and Arlington, Virginia, as the locations for the company’s new headquarters. Amazon will invest $5 billion and create more than 50,000 jobs across the two new headquarters locations, with more than 25,000 employees each in New York City and Arlington. The new locations will join Seattle as
SEATTLE — Just 13 minutes after placing an order on Amazon.com, a customer in Cambridge, England, received the order — an Amazon Fire TV streaming device and a bag of popcorn — dropped at the customer’s doorstep by an autonomous drone, the first such delivery for the company. Amazon’s chief executive officer, Jeff Bezos, confirmed