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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN


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Amazon says sellers racked up more than $4.8 billion in sales over weekend

12/01/2020 | 07:58am EST
FILE PHOTO: An Amazon worker delivers packages

(Reuters) - Amazon.com Inc said on Tuesday independent businesses selling on its platform crossed $4.8 billion in worldwide sales from Black Friday through Cyber Monday, an increase of more than 60% from a year earlier.

In its first indication of performance for the year's peak online shopping days, Amazon said more than 71,000 small- and medium-sized businesses worldwide had surpassed $100,000 in sales this holiday season to date. (https://bit.ly/2JePBBn)

The Seattle-based company did not, however, give a breakdown of U.S. sales or its own numbers for the weekend, nor for either of the two big shopping days, saying only that the holiday season overall had been its biggest ever.

Latest industry estimates overnight showed Cyber Monday on course to be the biggest online shopping day ever for the United States, garnering up to $11.4 billion as the COVID-19 pandemic prompted consumers to stay at home and turn to the internet for their holiday shopping needs.

The robust performance comes despite nearly two months of offers since Amazon held its Prime Day sales event in October, with retailers seeking to recoup business lost during this year's coronavirus-driven closures of malls and stores.

Meanwhile, Ottawa, Canada-based Shopify Inc said on Tuesday total Thanksgiving weekend sales soared 76% to $5.1 billion, beating the previous record of more than $2.9 billion by Saturday evening.

"The record sales ... demonstrate the power of the independent and direct-to-consumer businesses," Shopify President Harley Finkelstein said.

Estimates from Adobe Analytics showed this year's conclusion to Thanksgiving weekend sales would come in between $10.8 billion and $11.4 billion.

While that was down from an earlier estimate of as much as $12.7 billion, it still easily surpasses this year's Black Friday figure of $9 billion, the strongest online sales result for the day ever, as well as last year's Cyber Monday total of $9.4 billion.

(Reporting by Aakriti Bhalla and Patrick Graham in Bengaluru; Additional reporting by Praveen Paramasivam; Editing by Shounak Dasgupta and Arun Koyyur)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ADOBE INC. 1.18% 466.22 Delayed Quote.-8.02%
AMAZON.COM, INC. 1.16% 3277 Delayed Quote.-0.75%
SHOPIFY INC. 1.37% 1109.48 Delayed Quote.-3.52%
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Financials (USD)
Sales 2020 380 B - -
Net income 2020 18 156 M - -
Net cash 2020 44 746 M - -
P/E ratio 2020 92,9x
Yield 2020 -
Capitalization 1 622 B 1 622 B -
EV / Sales 2020 4,15x
EV / Sales 2021 3,44x
Nbr of Employees 798 000
Free-Float 82,0%
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 51
Average target price 3 844,34 $
Last Close Price 3 232,58 $
Spread / Highest target 39,2%
Spread / Average Target 18,9%
Spread / Lowest Target 8,27%
EPS Revisions
Managers and Directors
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
Jonathan Jake Rubinstein Lead Independent Director
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