Why Amazon is the 'perfect' moneymaking machine
By
Julia Horowitz, CNN Business
Published May 1, 2021 7:05:53 AM
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(CNN) — Throughout the pandemic, Amazon has had no trouble generating huge returns. Once the Covid-19 crisis passes, it's in great shape to make even more money.
What's happening: The internet giant's profits more than tripled to $8.1 billion in the first three months of 2021. Shares, which are near an all-time high, are up 2% in premarket trading.
"Amazon has the almost perfect business for the world right now," said James Harris, global chief strategy officer at Mindshare Worldwide. "The world's leading e-commerce platform, a growing cloud business and a smaller but growing advertising capability all working in unison. It's a compelling offer."