Why Amazon had record profits despite having spend $4 billion on COVID - Business Insider

The $5.2 billion in net profit, which doubled from last year, was all the more impressive because Amazon had previously warned it would spend all of the $4 billion it was projected to make in quarterly profits on COVID-related responses, including wage increases for warehouse workers and the development of an in-house testing lab.

Amazon cut its marketing spend by a third during the quarter to reduce the demand it was seeing, Olsavsky said. It also slowed its investments in its Studios business, delaying productions of some shows to protect the actors and filming crew amid COVID-19. In fact, Amazon's sales and marketing spend was roughly flat from last year at $4.3 billion, while its total operating expense of $30 billion grew just 29%, much slower than the 40% sales growth rate.

Hey Jeff just spit balling here...what if you put only $1billion in govt bonds or a savings account and the interest goes to those out of work? You still keep the $1Billion!!

Now do Apple

1-5: look on your front porch.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Amazon promised to spend all its profit amid pandemic, but ended up with record earnings insteadAmazon.com Inc. Chief Executive Jeff Bezos promised to spend all the additional profits his company made from a huge boost in sales related to the COVID-19...
Fonte: MarketWatch - 🏆 3. / 97 Consulte Mais informação »

Construction site of $400M Montana resort leads to 116 COVID-19 cases - 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. Perfect time to construct a hotel 👌
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »

Herman Cain dies after being hospitalized for 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. TrumpsTulsaRally That is really sad. I hope anti maskers take this more seriously. When politics 'Trumps' science. Ya'll keep that same energy.
Fonte: BusinessInsider - 🏆 729. / 51 Consulte Mais informação »