This story is available exclusively to Business Insider subscribers.Amazon said on Thursday that it expects to record about $4 billion in COVID-related costs this quarter.
Wall Street appears to have been spooked by the $4 billion estimated cost, as Amazon shares dropped 1% in after-hours even though it reported stellar third-quarter results.Amazon said on Thursday that it expects another $4 billion in COVID-related expenses this quarter. But Amazon CFO Brian Olsavsky clarified during Thursday's earnings call that the $4 billion cost this quarter isn't entirely related to money spent on new initiatives — it also includes more arbitrary costs like "productivity drags" stemming from social distancing and longer breaks.
The increased cost in COVID-related expenses for this quarter appeared to have spooked some investors, as Amazon's stock dropped about 1% in after-hours trading, even though its. Amazon said its fourth-quarter operating profits will fall between $1.0 billion and $4.5 billion, below the $5.81 billion Street estimate, in part due to the COVID-related expenses.
Im sure the robots wont complain about it
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:
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
ECB hints at more stimulus as COVID-19 hits eurozone economy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. horrible The Election day White Elephant in the room question: Was Trump compromised by Putin and his intelligence agencies? Please take quick poll and see where you stand on this issue: I really hope that what this lady says is true ....
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »
Fauci: US won't see 'semblances of normality' until 2022 due to COVID-19 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Baahahaha he’s a FIEND DON'T TRUST FAUCI‼️
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »
Stocks to buy, 6 Halloween food makers to profit during COVID-19: BofA - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. nice
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »
Trump administration wrongly claims it has ended COVID-19 pandemic - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. If everyone has it, the spread is stopped. hi, to anyone reading this, can you please share my moms go fund me? She survived COVID-19 TWICE, but still needs help, Just one share would mean the world to mom and I ❤️ ❤️ 🙏🏽 thank you for all prayers, donated funds and shares of this campaign The Trump Years 😷
La source: BusinessInsider - 🏆 729. / 51 Lire la suite »