The days of Amazon’s profit struggles are long gone

Amazon has always been playing a long game. For years it generally had to choose between investing in growth or turning a profit. Famously, it prioritized growth, so much so that it was newsworthy in 2016 when it turned in four straight profitable quarters—in a row!

But while the company continues to invest in expansion, it’s now able to do so while still making plenty of money, even as Covid-19 has sent its costs soaring. Yesterday it reported that profits for the quarter ended Sept. 30 reached $6.3 billion, roughly triple their level last year. They’re still just a fraction of Amazon’s total sales, which grew to $96.1 billion as more shoppers turn to the e-commerce giant during the pandemic. But even relative to overall sales they’re reaching new highs.

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