As Covid-19 gives Amazon a boost, Jeff Bezos has smartly decided to share the spoils mainly with customers and staff, writes GinaChon.
Amazon.com reported first-quarter revenue of $75.5 billion, up 26% from a year ago. Analysts expected revenue of $73.6 billion, according to Refinitiv.
The e-commerce giant said that it would spend the equivalent of its second-quarter operating profit “getting products to customers and keeping employees safe” as part of a response to the Covid-19 epidemic. As a result, whereas Amazon had expected to make $4 billion in the quarter ending June 30, it said operating profit would now fall somewhere between a loss of $1.5 billion and a profit of $1.5 billion.
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