Amazon’s strong first-quarter sales, Jeff Bezos issued a warning: next quarter’s operating profits would fall as the firm covid-proofs its e-empire. No bonanza for shareholders, then. Ditto for much of the s&p 500. Nearly all its firms have now reported their quarterly results. Because America Inc locked down in mid-March, these do not reflect the pandemic’s toll.
Few ceos have been as blunt as Mr Bezos about what comes next; 45% have suspended or revised guidance. Analysts expect profits to fall by 20% this year. The futures market is pricing in large cuts to s&p 500 dividends in 2020 and 2021. The bouncy stockmarket—not so much.This article appeared in the Business section of the print edition under the headline "America’s profit warning"
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite: