Amazon, whose operations have been put to an extreme test during the coronavirus outbreak, posted mixed first-quarter earnings. Founder and CEO Jeff Bezos issued a remarkably assertive statement al…
issued a remarkably assertive statement along with the the company’s earnings, saying the tech giant is “not thinking small” and plans to plow billions of profits back into its COVID-19 response.
Revenue rose 26% to $75.5 billion, ahead of expectations, but pandemic-related expenses dragged down earnings per share to $5.01, off 31% from the same period a year ago. Shares in the tech giant sold off in after-hours trading but have bucked the market’s broader selloff in recent months, hitting new highs and closing Thursday at $2,474 after establishing yet another all-time top.NASCAR Revs Up Mid-May Return To Live Racing: Seven Events, 11 Days, Two Tracks, No Crowds
“From online shopping to AWS to Prime Video and Fire TV, the current crisis is demonstrating the adaptability and durability of Amazon’s business as never before, but it’s also the hardest time we’ve ever faced,” founder and CEO Jeff Bezos said in the earnings release. “Providing for customers and protecting employees as this crisis continues for more months is going to take skill, humility, invention, and money.
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