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Stock impact report

UPDATE 4-Amazon sees possible 2nd-quarter loss as it forecasts $4 bln in COVID-19-related costs [Reuters]

Amazon.com, Inc. (AMZN) 
Last amazon.com, inc. earnings: 4/30 04:01 pm Check Earnings Report
Company Research Source: Reuters
Amazon sees possible second-quarter loss as it forecasts $4 billion in COVID-19-related costs (Reuters) - Amazon.com Inc ( AMZN.O ) on Thursday said it could post its first quarterly loss in five years even as revenue surges because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workforce for COVID-19. Shares of Amazon, the world’s largest online retailer, fell 5% in after-hours trade. Jeff Bezos, the company’s founder and world’s richest person, said in a statement, “we’re not thinking small,” a sign that the e-commerce company would invest heavily during the pandemic. Rival brick-and-mortar retailers have had to shut stores while Amazon hired 175,000 people. This quarter, with government-mandated lockdowns in full swing, Amazon said it could see a 28% rise in revenue to $81 billion. Under normal circumstances, Amazon would earn an operating profit of at least $4 billion in the current second quarter, but its costs will rise Show less Read more
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