They're not making profits. Most quarters they are only slightly profitable. Current P/E is 582, which is astronomically high. E.g. for comparison Apple's P/E is 13.
But that's been Amazon's strategy for almost two decades. Their goal is to instead grow their business. Currently they are at $74 Billion / year in revenue, and still increasing. Once they stop their massive spending on growth, they will (presumably) be able to increase their profits.
But that's been Amazon's strategy for almost two decades. Their goal is to instead grow their business. Currently they are at $74 Billion / year in revenue, and still increasing. Once they stop their massive spending on growth, they will (presumably) be able to increase their profits.