The Strategist

Bezos sells Amazon shares for $ 1.84 bln

08/02/2019 - 09:04

Jeff Bezos, owner of the online retailer Inc., has sold about $ 1.84 billion in shares of his company, the company said in a notice to the US Securities and Exchange Commission (SEC).

This is the first time when Bezos is selling Amazon shares for such amount.

Earlier this year, Jeff Bezos in his annual letter to shareholders warned that in the future the company would face major troubles that would prove imminent and cost billions. “As it grows, everything should scale, including the size of your failed experiments. If the failures do not grow, then you will not create new ones on a scale that can really move everyone,” Bezos wrote.

He noted that Amazon intends to experiment on a scale that is inherent in companies of its size, and this will entail billions of risks.

In April, Amazon reported a record profit for Q1 2019, which exceeded Wall Street expectations. But the company warned that Q2 results are likely to be well below analysts' forecasts.

The net profit of Amazon in the 1st quarter of 2019 more than doubled in annual terms and reached $ 3,561 billion, a maximum for the fourth quarter in a row, the company said.

Diluted earnings per share were $ 7.09 versus $ 3.27 for the same period in 2018.