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LG Acquires Major Stake in Amazon for $12.8 Billion

Guavy AI Editorial Team
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AMZN
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Legal & General Group Plc has acquired a significant stake in Amazon.com, Inc. (NASDAQ:AMZN), purchasing 53,836,436 shares worth approximately $12.83 billion during the second quarter.

This acquisition accounts for about 2.7% of Legal & General Group Plc's investment portfolio and makes Amazon.com its fifth-largest holding.

The e-commerce giant reported a quarterly revenue of $200.61 billion, up 19.6% from the same period last year, with earnings per share (EPS) of $5.75, exceeding analysts' estimates.

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