Jeff Bezos, head of Amazon, can be seen on the sidelines of the company’s news event.
Andrej Sokolow | alliance image | Getty Images
Amazon’s fourth-quarter profits shocked Wall Street analysts in more ways than one.
The e-commerce giant reported that one of its most impressive and largest quarters to date surpassed earnings and sales estimates on Tuesday after the bell and left its mark as the main beneficiary of the coronavirus.
And while the news that Amazon CEO and founder Jeff Bezos would retire later this year was shocking to some, there are likely not many things to derail the shares, according to the analysts. Andy Jassy, who built the Amazon cloud business, will take over.
Stocks are mostly flat in the premarket trade.
Here’s what analysts say about the company’s profit report and Bezos’ transition: