Amazon Projects Revenue Signaling Strong E-Commerce Demand
- Company announces CEO Bezos Will Become Executive Chairman
- Amazon Web Services chief Andy Jassy to Succeed Bezos as CEO
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Amazon.com Inc. forecast first-quarter sales that topped analysts’ estimates, signaling the internet shopping boom will continue after fueling the company’s first $100 billion quarter during the holidays.
The company’s forecast and quarterly results were overshadowed by the announcement that Chief Executive Officer Jeff Bezos will step down from the role to become executive chairman in the third quarter and be succeeded by Andy Jassy, now head of Amazon Web Services, the company’s cloud computing unit.