and transition to executive chairman, an announcement that coincided with the company's earnings report that showed record quarterly revenue. Amazon cloud chief Andy Jassy will take over for Bezos as CEO in the third quarter. Bezos, 57, said he will stay engaged in important Amazon projects but will also have more time to focus on the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund.
for the first time ever. In fact, fourth-quarter revenue soared to a better-than-expected $125.56 billion. Per-share earnings of $14.09 nearly doubled expectations. Amazon's cloud-computing unit, which Jassy leads, saw its revenue climb 28% to $12.7 billion, though that was lower than forecasts.The logos of Google and several of its applications are displayed on a computer screen.