Amazon.com Inc on Tuesday beat estimates for holiday-quarter sales and said Jeff Bezos would move to the role of executive chair in the third quarter and be replaced by Amazon Web Services head Andy Jassy as chief executive officer.

Net sales rose to $125.56 billion in the fourth quarter ended Dec. 31 from $87.44 billion, beating estimates of $119.7 billion, according to IBES data from Refinitiv.


Click to play video 'Four Big Tech CEOs agree not to tolerate any slave labour used for products sold on their platforms'







Four Big Tech CEOs agree not to tolerate any slave labour used for products sold on their platforms


Four Big Tech CEOs agree not to tolerate any slave labour used for products sold on their platforms – Jul 29, 2020

Amazon was forced to move its two-day shopping event Prime Day, typically in July, to early October, contributing to its holiday sales numbers.

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