The move, announced in a financial earnings release and a letter to employees late Tuesday, caught many off guard, but
"It's truly amazing all the successes he's had and although he's irreplaceable," Edward Jones analyst
The leadership move was slotted nearly halfway down in the release and was a short and succinct two paragraphs before financial highlights.
Jassy runs the company's cloud computing division. Bezos founded his company in 1994 and took the company public three years later.
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Here are the highlights regarding
- Operating cash flow increased 72% to
$66.1 billion for the trailing 12 months, compared with$38.5 billion for the trailing 12 months endedDec. 31, 2019 . -
Net sales increased 44% to
$125.6 billion in the fourth quarter, compared with$87.4 billion in fourth quarter 2019. Excluding the$1.7 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 42% compared with fourth quarter 2019. -
Operating income increased to
$6.9 billion in the fourth quarter compared with operating income of$3.9 billion in fourth quarter 2019. -
Net income increased to
$7.2 billion in the fourth quarter, or$14.09 per diluted share, compared with net income of$3.3 billion , or$6.47 per diluted share, in fourth quarter 2019.
For the full year 2020:
- Net sales increased 38% to
$386.1 billion , compared with$280.5 billion in 2019. Excluding the$1.4 billion favorable impact from year-over-year changes in foreign exchange rates throughout the year, net sales increased 37% compared with 2019. -
Operating income increased to
$22.9 billion , compared with operating income of$14.5 billion in 2019. -
Net income increased to
$21.3 billion , or$41.83 per diluted share, compared with net income of$11.6 billion , or$23.01 per diluted share, in 2019.
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