02-03-2021 09:04 AM | Source: Reuters
Amazon`s Bezos to step down from CEO role in third quarter
Amazon.com Inc on Tuesday beat estimates for holiday-quarter sales and said Jeff Bezos would move to the role of executive chair in the third quarter and be replaced by Amazon Web Services head Andy Jassy as chief executive officer.
Net sales rose to $125.56 billion in the fourth quarter ended Dec. 31 from $87.44 billion, beating estimates of $119.7 billion, according to IBES data from Refinitiv.
Amazon was forced to move its two-day shopping event Prime Day, typically in July, to early October, contributing to its holiday sales numbers.
(Reporting by Akanksha Rana in Bengaluru and Jeffrey Dastin in San Francisco; Editing by Anil D'Silva)
Latest News
Unbelievable scenes! Jam-packed Mumbai awaits team I...
Market Explorer - July 2024 by Religare Broking Ltd
HDFC Bank`s June-quarter gross advances down 0.8% se...
Zomato relaunches `Intercity Legends` service with m...
Buy Gold Above 72500 SL Below 72300 TGT 72800/73100 ...
Government slashes licence fee for women entrepreneu...
Die-hard fans wave tricolours as team India reaches ...
Residential Prices in Bengaluru See 57% 5-Year Jump,...
``It won`t let you down?``Tahira Kashyap Khurrana as...
Market Wrap Up by Shrikant Chouhan, Head Equity Rese...