Another day, another blockbuster result for a tech company. This time it was Amazon’s turn, posting a 44% lift in first-quarter revenue to a stunning $108.5 billion. This was the third quarter in the past 12 months where Amazon’s topline increased more than 40%. In 2019, pre-pandemic Amazon’s sales grew just 20%. That tells you how much of a lift the company got from the lockdown-inspired acceleration of online shopping.
And it wasn’t just Amazon reporting good numbers today. Twitter posted 28% growth in revenue, driven by a 32% increase in advertising sales, a sign it got a share of the stellar digital ad market this past quarter. Amazon thrived in that area as well, incidentally. The segment of the e-commerce firm’s business that mainly comes from advertising rose 77% to $6.9 billion.