Amazon announced plans for a new fleet of trains and buses, a revamped logistics system and an ambitious new retail strategy that it expects to sell at least 500 million items a year in the U.S. alone.
But the company still has a long way to go to match its current level of sales and profitability.
In an earnings call Tuesday, Amazon chief financial officer Michael Moritz said the company’s full-year revenue would be $13.9 billion, up 8 percent from $13 billion a year ago.
He said that figure is not yet final and the company may add to that number in the future.
Moritz said Amazon has not yet announced its planned full-cycle revenue target, but the company has an operating margin of about 35 percent, which is in line with the industry’s average.
But it’s still not good enough to make it to a full-fledged profitability, he said.
Amazon is looking to the next decade for a rebound.
The company has been cutting costs at the same time it has been adding jobs.
Last year, the company announced plans to cut 8,500 jobs, including about 2,000 employees in the Seattle area, while also expanding its international footprint.
The Seattle area saw its first wave of job cuts last month, and the next round is expected to be bigger, Moritz told analysts.
He also said Amazon is preparing for a return to full-time sales in the next year or two.
The plan is for the company to add as many as 1 million full-timers by the end of 2020, and to hire more than 500,000 full- and part-time employees by the year’s end, he added.
Moriz also said the Amazon logistics network, which handles hundreds of millions of packages a year, will be expanded to support its new Amazon Prime business.
The company has long been focused on getting its fulfillment centers into people’s homes and is expanding that service to help people make it easier to order products from Amazon.
The announcement comes as the company is on track to post its biggest profit in more than a decade.
The financials of Amazon, a unit of Amazon.com, show that it has lost about $6 billion this year and is expected by the company analysts to post a loss of $1.2 billion for the fiscal year ending Sept. 30.
The stock has gained about 8 percent this year, while its market value has grown about 12 percent.
Amazon has lost $1 billion this week on a sales increase of 10.7 percent.
Last week, its shares hit an all-time high of $79.94.
Amazon shares closed Tuesday at $69.10.