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How Amazon more than tripled its profits in Q1

Amazon.com has posted its fourth straight quarter of record profits, thanks to the global shift to online shopping during the Covid-19 pandemic.  The US company revealed in an earnings update on Thursday that it had more than tripled its profits to US$8.1 billion on sales of US$108.5 billion in the quarter ended March 31, 2021, outperforming analyst expectations. And the online retailer believes this growth will continue, with Prime Day scheduled to occur in June, rather than July as it has