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Amazon’s Annual Net Income (1998-2021, $ Million)

Industry: Online Retail
Current: Company Performance

Amazon’s net income amounted to $33 billion in 2021
Net income in the year 2020, stood at $21 billion
Revenue from online product sales is the primary source of Amazon’s total revenue

E-commerce giant Amazon made a net income of $33 billion in the fiscal year 2021, which is 56% higher than the net income of $21 billion in 2020. Since 2015, the net income of Amazon has consecutively grown due to the popularity of e-retail and cloud business.

In early 2020, when the pandemic began, businesses across the world made a strategic shift to cloud computing to resume operations. Over the course of time, some businesses even decided to do away with their technology infrastructure and make a complete switch to cloud computing, thus accelerating the Amazon Web Services (AWS) business. Similarly, the consumer business grew dramatically in 2020 and sustained its growth in the year 2021. Consumers started using Amazon during the pandemic and continued using the platform for a larger amount of their household purchases.

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