With an influx of online shopping, more and more Americans are doing their shopping from home. Amazon Prime has made it easier and faster than ever to shop for just about anything and receive it in a couple days. It was no surprise that Amazon anticipated and received a highly successful Black Friday and Cyber Monday this past year. After all, who would want to brave the long lines at major retailers if they could get the same deals from the comfort of their own home? Amazon now reports that this past Cyber Monday raked in the most revenue of any year yet, according to the Hartsburg News.
This past Tuesday, the company reflected on their prosperous holiday season. Over the five days between Thanksgiving and Cyber Monday, Amazon sold over 180 million items. This breaks all past records by a long shot. Although the company has not yet revealed the exact amount of revenue they earned this past Christmas season, it will likely be brought to light soon when they conduct their end of the year earning report. This report is set to be made public upon the start of the new year.
Amazon Channels To Generate $1.7B In Revenue For 2018 https://t.co/d1kiTRyAVV pic.twitter.com/QTPwUugBoK
— McDermott Media (@McDermottMG) December 26, 2018
Amazon CEO Jeff Bezos issued a statement regarding the company’s progress in the past year, according to CNBC News. “Amazon Business has now reached a $10 billion annual sales run rate and is serving millions of private and public-sector organizations in eight countries,” Bezos said in a statement. He also mentioned the increase in Amazon stock during 2018, which was up roughly 49% at the time of his statement.
Investors are keeping a close eye on the online shopping giant, as their revenues have been sporadic this past year. Many hope Amazon’s Cyber Monday sales will make up for them falling short from Wall Street’s expectations during their third quarter. The company’s revenues will indeed have to be as high as they claim during the fourth quarter. If they did not meet their expectations, the company could experience another drop in stock similar to the one associated with the end of their last quarter.
The company previously stated that they expected their holiday revenues to be between $66.5 billion to $72.5 billion, a rather wide margin. In addition, Amazon discussed the surge of success that many of their partner businesses experienced in 2018. They report that small and medium-sized retailers across the globe enjoyed an impressive 20% sales increase this past Black Friday.