Amazon is a multinational technology company that focuses on e-commerce, cloud computing, artificial intelligence, and digital streaming. The company has become synonymous with the e-commerce industry and has been one of the best-performing stocks in the last decade. The company announced its fourth-quarter financial results on Tuesday and reported its first $100 billion quarter following the holiday and pandemic shopping surge.
In its fourth-quarter fiscal, the company reported that its net sales increased by 44% to $125.6 billion. From that, it reported a net income of $7.2 billion for the quarter or $14.09 per diluted share. Jeff Bezos, Amazon founder had this to say, "If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive. When you look at our financial results, what you're actually seeing are the long-run cumulative results of invention. Right now I see Amazon at its most inventive ever, making it an optimal time for this transition." With a post-Bezos Amazon still well-positioned for growth, you will add AMZN stock to your watchlist?
[Read More] 4 Top Silver Stocks To Watch Right Now
Sea is a consumer internet company that has developed an integrated platform consisting of e-commerce, digital entertainment, and digital financial services. Its three businesses are Shopee, Garena, and SeaMoney respectively. Shopee is the largest pan-regional e-commerce platform in Southeast Asia and Taiwan. SeaMoney is a leading digital payments and financial services provider in Southeast Asia. The company's share price has been up by over 70% in the last 6 months.
In its third-quarter fiscal last November, the Sea posted total revenue of $1.2 billion, almost doubling from a year earlier. Its total gross profit was $407.6 million, also up by 100%. A good chunk of this revenue came from its e-commerce segment, Shopee at $618.7 million. Shopee saw a 173.3% increase in revenue year-over-year and this is likely due to the pandemic generally causing more people to stay at home. Given its explosive growth for the quarter, Sea has raised its full-year guidance for its e-commerce segment. With such exciting developments surrounding the company, won't you want to own SE stock?
Is there a problem with this press release? Contact the source provider Comtex at email@example.com. You can also contact MarketWatch Customer Service via our Customer Center.