Wall Street

Amazon beats quarterly sales estimates

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Reuters UK

(Reuters) – Amazon.com Inc beat Wall Street estimates for quarterly sales on Thursday, as it raked in more fees from its Prime loyalty subscribers as well as from merchants using it services to sell and ship goods. Shares of the e-commerce giant rose 7% in trading after the bell. Amazon was a big pandemic winner as lockdown-stricken consumers relied heavily on it for services such as shopping and entertainment, while its cloud offerings underpinned remote working for millions. However, the retailer, dependent on its vast network of delivery infrastructure, is facing the heat of red-hot inflati…

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