Retail giant Walmart, which perfected the business model of driving down costs to dominate the market, has been surpassed by e-commerce leader Amazon, which just became the largest retail seller outside of China. Driven by a surge in online shopping during the global COVID-19 pandemic, Amazon raked in $610+ billion over the year ending in June, according to FactSet. Walmart just posted sales of $566 billion for the year ending in July. Both are eclipsed by Chinese online retailer Alibaba, the world’s top seller. Continue reading Amazon Bests Walmart as Top Retail Seller Outside of China

Amazon unveiled its $1.5 billion air hub in northern Kentucky this week. The hub will serve as the “central nerve” of the company’s U.S. air cargo operations and aid in speeding up deliveries and having better control over logistics. Amazon Air, which debuted in 2016 as the company’s growing air cargo arm, operates in 40+ airports around the U.S. Its routes are flown by several contracted carriers. Now, the Cincinnati/Northern Kentucky International Airport will allow Amazon to improve its one-day and same-day deliveries. Continue reading Amazon Unveils Central Air Hub to Speed One-Day Deliveries

Amazon posted its third consecutive $100 billion quarter during Q2 this year; revenue grew 27 percent year-over-year to $113.08 billion. Refinitiv revealed earnings of $15.12 versus $12.30 per share, and revenue of $113.08 billion versus $115.2 billion. However, Amazon predicts slightly slower growth for the upcoming quarters. In Q3, the company estimates its operating profit would land somewhere between $2.5 billion and $6 billion. According to chief financial officer Brian Olsavsky, “most of Amazon’s 2021 spend and building openings are planned for the second-half of the year.” Continue reading Amazon Has Strong Q2, Earnings Helped by Cloud, Ad Sales

The Defense Department stated that the contract for the Joint Enterprise Defense Infrastructure (JEDI) project “no longer meets its needs,” canceling a highly contentious $10 billion cloud computing contract awarded to Microsoft. In January, the department warned Congress that it would do so if a federal court agreed to hear whether former President Trump used his influence to award the contract to Microsoft over its rival Amazon. Such a suit, it pointed out, would result in a lengthy court cost and unacceptable delays. Instead, the Pentagon announced a new cloud program. Continue reading Pentagon Cancels JEDI Contract, Reveals New Cloud Initiative

Amazon founder Jeff Bezos is stepping down as chief executive of the e-commerce and tech giant, elevating Andy Jassy, former head of the company’s web division, to the CEO position, making it one of the most high-profile executive swaps in years. But behind the scenes, more change has roiled the company with numerous executives departing in the last 18 months, many after working there for years. That’s unusual because many of Amazon’s top staffers started with the company in its earliest days, became wealthy via stock, and were considered loyal lifers. Continue reading Jeff Bezos Steps Down, Andy Jassy Is the New Amazon Boss

On June 8, Amazon will introduce its new Amazon Sidewalk program that allows some small smart devices — Ring Floodlight and Spotlight cameras, for example, and Echo Dot smart speakers and Echo Show smart displays — to share low-bandwidth home Wi-Fi networks among neighboring Amazon customers. On June 14, the network will expand to include third-party product Tile, connected to keys. All devices will become part of Amazon Sidewalk by default. The idea is that if one network drops out, the device can move to another nearby signal.

Continue reading Amazon Sidewalk Will Launch Mesh Networks for IoT Devices

Amazon founder Jeff Bezos will officially leave his position as chief executive on July 5, and Amazon Web Services chief executive Andy Jassy will take over the Amazon CEO position. The departure of Bezos was originally announced in a February earnings report but a specific date was not revealed. Bezos said July 5 is “sentimental” because it was the date Amazon was incorporated in 1994. Bezos will become executive chair, focusing his attention on “new products and early initiatives.” He said he expects Jassy to be “an outstanding leader.” Continue reading Amazon Founder Jeff Bezos Will Step Down as CEO on July 5

Amazon announced this morning that it will purchase MGM Studios for $8.45 billion, signaling the tech giant’s serious intent to expand its entertainment ambitions by beefing up its Prime Video content library to better compete with Netflix, Hulu and the growing collection of streaming video services. The deal marks the second largest acquisition for Amazon; the company paid $13.7 billion for Whole Foods in 2017. Amazon plans to leverage MGM’s significant catalog of 4,000 movies and 17,000 television shows to help strengthen its film and TV unit Amazon Studios. Continue reading Amazon to Acquire MGM in Deal Valued at Nearly $8.5 Billion

With the goal of lowering workplace injuries 50 percent by 2025, Amazon introduced its WorkingWell safety and injury prevention program. Chief executive Jeff Bezos has long focused on common warehouse manual labor injuries, especially MSDs (musculoskeletal disorders), most recently in his annual letter to shareholders. WorkingWell will offer employees with physical, mental and nutritional support in every U.S. operation by the end of 2021. The program, which comes as Amazon looks to hire 75,000 new workers, targets “recordable incident rates,” an OSHA measurement for worker injury and illness. Continue reading Amazon Debuts Wellness Program to Curb Workplace Injuries

The Pentagon may end the JEDI (Joint Enterprise Defense Infrastructure) cloud-computing project, awarded to Microsoft in 2019. Since then, it has been in litigation with Amazon, which was passed over for the $10 billion contract that will consolidate the Pentagon’s array of data systems and provide access to real-time information. The Defense Advanced Research Projects Agency (DARPA) is also exploring the use of artificial intelligence in automating military systems, including weapons. Continue reading Pentagon Considers Ending JEDI, Enabling Bigger Role for AI

For Q1 2021, Amazon reported record profits of $26 billion, more than the previous three quarters combined, with net income more than tripling to $8.1 billion and revenue of $108 billion, surpassing FactSet’s analyst predictions. In addition to Amazon’s successful quarter, Apple, Facebook, Google and Microsoft all enjoyed major upticks in profits and revenues, the result of the increased need for their products and services during the COVID-19 pandemic. Amazon expects that its Q2 sales will reach between $110 billion and $116 billion. Continue reading Amazon’s Profits, Income, Stock Price Skyrocket During 2020

In 2020 Amazon spent $11 billion on Prime services content, up 41 percent from the $7.8 billion it spent in 2019. The sum includes licensing and production costs and costs related to digital subscriptions and content it sells and rents. The first season of its “Lord of the Rings” TV show reportedly cost $465 million to produce. However, Amazon canceled the “Lord of the Rings” online role-playing game announced in 2019. The huge sums Amazon is putting into content reflects its desire to dominate global digital entertainment. Continue reading Amazon Spent Heavily on Video and Music Content Last Year

In the wake of Amazon warehouse workers in Alabama voting against unionization, company founder and chief executive Jeff Bezos stated that, “it’s clear to me that we need a better vision for how we create value for employees — a vision for their success.” Seventy percent of workers at the Alabama warehouse voted against the union. Bezos, who will step down as chief executive — but remain as chair — in Q3 this year, touted the fact that Amazon helped 200+ million Amazon Prime members save $630 each during the year. Continue reading Amazon: Jeff Bezos Touts New Vision for Employee Success

As Amazon warehouse workers in Alabama prepare to vote this month on whether to unionize, the Big Tech company is getting pressure from its staff worldwide to improve working conditions. President Joe Biden and Senator Bernie Sanders have expressed support for unionizing the Alabama warehouse and workers have already cast “thousands of votes.” Meanwhile, Amazon deleted hundreds of thousands of warehouse workers’ profiles from the internal online staff directory, which has some charging the company with union busting. Continue reading Amazon Faces Pressure from Workers to Improve Conditions

Amazon chief executive Jeff Bezos is stepping down from the role he has held since he started the Big Tech company 26 years ago and will assume the role of executive chairman. Amazon Web Services head Andy Jassy will replace Bezos as Amazon’s new chief executive. Bezos hands over the reins during a time in which COVID-19 has helped the company achieve record-breaking sales, while it also faces regulatory and legal investigations. Personally, he vies with Tesla chief executive Elon Musk as the world’s wealthiest person. Continue reading Amazon’s Jeff Bezos Steps Down After 26 Years at the Helm