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If there is one thing that Amazon is famous for, it’s his relentless focus on long-term growth. Having ignored critics for years, the company's founder Jeff Bezos’ willingness to sacrifice short-term profits for long-term success has paid off big time, turning his company into a global powerhouse and making him the wealthiest man on the planet.
Not only has Amazon cemented its position as the leading online retailer in large parts of the world, it has also built an industry-leading cloud computing business, established itself as a major player in music and video streaming and built an early lead in the booming smart speaker market.
Not only has Amazon cemented its position as the leading online retailer in large parts of the world, it has also built an industry-leading cloud computing business, established itself as a major player in music and video streaming and built an early lead in the booming smart speaker market.
The company has achieved all that by constantly re-investing most of the money it earns. In the past twelve months, however, Amazon's net income more than tripled from $3.03 billion in 2017 to $10.07 billion in 2018. That is its biggest annual profit by far, indicating that even Jeff Bezos with his notorious long-term vision is running out of ideas to invest all of the money his company is making. Our chart below illustrates Amazon’s strategy by contrasting the company’s exponential revenue growth to its relatively modest profit growth.