Agencies | Washington

The Daily Tribune – www.newsofbahrain.com

Technology giant Amazon reported 96.1 billion dollars in net sales as the pandemic-related surge in online shopping continues to boost the company, said a media report.

Amazon's 2020 third-quarter sales jumped 37 percent, compared to the same period in 2019, and the company nabbed a record 6.3-billion-dollar profit for the quarter, nearly three times greater than Amazon's profits in the same quarter last year.

The report blew past analysts' expectations, with the earnings per share coming in at 12.37 dollars versus expected earnings of 7.41 dollars per share.

Amazon has seen rapid sales growth during the coronavirus pandemic as many stores closed to in-person shopping and customers sought online alternatives for fear of catching the coronavirus in a physical store.

Amazon chief executive Jeff Bezos said holiday season shopping is likely to break records. The company has projected between 112 billion and 121 billion dollars in sales in the fourth quarter.

"We’re seeing more customers than ever shopping early for their holiday gifts, which is just one of the signs that this is going to be an unprecedented holiday season," Bezos said.