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FactSet compiles and averages the estimates. The analysts make the estimates based on data the company releases, such as revenue it collects from sellers and the marketplace’s share of total units sold, and their own research. Morgan, BMO Capital Markets and Cowen to estimate what is known as the “gross merchandise value,” calculating how much customers buy on Amazon, regardless of whether it comes from Amazon’s inventory or from a seller’s. That has led analysts at investment banks like J.P.
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as the largest retailer in the early 1960s by targeting middle-class shoppers in the suburbs and expanding the department store model. was such a force that antitrust authorities pursued it in the 1940s. Over the last century, very few companies could stake a claim to world’s biggest retailer. “The Big Bad Wolf is Amazon now,” said Barbara Kahn, a professor of marketing at University of Pennsylvania’s Wharton School of Business who has written several books on retailing.
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And the company has started to receive many of the same complaints - over its treatment of workers and impact on local and national economies - that Walmart faced during its biggest periods of expansion more than a decade ago. With Amazon’s success has come greater scrutiny. The company publicly reports only the fees it takes from those transactions. But analysts must calculate an estimate of the value of Amazon’s overall sales because most of what people buy on its site are products owned and listed by outside merchants.
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Knowing the full value of Walmart’s sales is simple, because they nearly all come from its own inventory and are disclosed publicly each quarter. On Wednesday, Amazon announced it would increase pay for half a million workers and was hiring “tens of thousands” more.While the figures are calculated differently, analysts regularly use them as a rough comparison. That was still 51 percent more workers than the same period last year. Bezos plans to step down as chief executive later this year and transition into the role of executive chairman.Īmazon’s total work force dipped slightly between December and the end of March, falling by 27,000 to 1,271,000 employees globally. “In just 15 years, AWS has become a $54 billion annual sales run rate business competing against the world’s largest technology companies, and its growth is accelerating,” Jeff Bezos, Amazon’s founder and chief executive, said in a statement. Olsavsky said he expected “another strong year” for capital spending. It spent almost $50 billion in capital expenditures in the last 12 months, largely on building out its logistics operations and data centers, up 80 percent over a year earlier. He said the company is investing heavily in future growth. “We certainly had strong volumes really across all of our businesses,” Amazon’s finance chief, Brian Olsavsky, said on a call with reporters. The pandemic’s shift to remote computing was also a boon to Amazon’s profitable cloud computing business, Amazon Web Services, which had $13.5 billion in sales. The number of items Amazon sold grew 44 percent, but the cost to fulfill those orders was up only 31 percent.
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It has run its warehouses closer to full capacity, and delivery drivers have made more stops on their routes, with less time driving between customers. The high volume of orders during the pandemic has let Amazon operate more efficiently.
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In addition to paying Amazon $119 a year or $12.99 a month for free shipping and other perks, households with Prime memberships typically spend $3,000 a year on Amazon, more than twice what households without the membership spend, according to Morgan Stanley. Its “other” business segment, which is largely its lucrative advertising business, increased 77 percent, to almost $7 billion.Īmazon previously disclosed that 200 million people pay for Prime memberships, and subscription revenue for that service and others reached almost $7.6 billion in the quarter. Revenue from merchants listing items on its website and using its warehouses was up 64 percent, to $23.7 billion. The most profitable parts of Amazon’s retail business boomed. Shares were up as much as 5 percent in aftermarket trading. The first-quarter results surpassed Wall Street’s expectations. It also posted $8.1 billion in profit, an increase of 220 percent from the same period last year. With the pandemic shifting sales online and consumers flush with stimulus checks, Amazon on Thursday reported $108.5 billion in sales in the first three months of the year, up 44 percent from a year earlier.