E-commerce accelerated during the second and third quarters of 2020, when consumers sheltered at home and turned to the internet to order goods. That acceleration doesn’t seem to have tapered off — at least not according to Amazon‘s (NASDAQ: AMZN) blowout fourth-quarter results. Sales surged during the quarter and earnings per share skyrocketed.
Despite Amazon’s surprising results, there was even bigger news in the e-commerce giant’s fourth-quarter update than the company’s strong financial performance. As of the third quarter of 2021, founder and CEO Jeff Bezos is stepping down from his current role, transitioning into an executive chairperson position.