Thursday April 30, 2020
It is clear that Amazon benefits from the measures to curb the coronavirus pandemic. The question from investors is therefore: how much? And the world’s largest online retailer delivers in the first quarter. At least with the proceeds side.
The online retailer Amazon is doing brilliant business in the corona virus pandemic. Revenue climbed 26 percent to $ 75.5 billion in the first quarter, the industry leader said. The bottom line, however, was less stuck. Operating income fell to $ 4.0 billion from $ 4.4 billion a year earlier.
In the current quarter it can even go into the red. Amazon plans to post an operating loss of $ 1.5 billion to an operating profit of $ 1.5 billion.
CEO Jeff Bezos announced plans to spend $ 4 billion in the second quarter on the Corona crisis – firstly, to get products to customers quickly, and secondly, to adequately protect employees. Amazon is not only the largest online retailer, the group is also the market leader in the cloud business with its AWS division.