Amazon.com, Inc. (NASDAQ: AMZN) reported fourth quarter 2020 earnings results today.
Net sales increased 44% year-over-year to $125.6 billion.
Net income rose to $7.2 billion, or $14.09 per share, from $3.3 billion, or $6.47 per share, in the same period a year ago.
Both the top and bottom line numbers beat market expectations.
For the first quarter of 2021, the company expects net sales to grow 33-40% YoY to a range of $100-106 billion.
Amazon announced that founder and CEO Jeff Bezos will move to the role of Executive Chair in the third quarter of 2021 at which time Andy Jassy will take over as CEO.
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