Amazon sees $60 billion in market cap erased after quarterly profits shrink (AMZN) | Markets Insider

shares are tumbling following the tech giant's first quarter earnings release, which fell short of analyst expectations even as revenue got a coronavirus-induced boost.

. Amazon's revenue surged 26% in the first quarter, beating expectations of a 24% jump, boosted by the coronavirus crisis as people flocked to the site to order items for delivery instead of shopping in-person and risking the virus. It costs more for Amazon to have an uptick in traffic on the site, and the company has also had to spend more due to disrupted supply chains. In addition, Amazon has had to make safety upgrades to warehouses amid the crisis, adding to costs.

"If you're a shareowner in Amazon, you may want to take a seat, because we're not thinking small," Bezos said in a statement.

Oooohhhh 😢

Oh no...that poor man. How ever will someone like Jeff 'Rip-off JK Simmons' Bezos survive?

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

The US blacklisted five Amazon websites as 'notorious markets' - Business InsiderThe Trump administration blacklisted 5 overseas Amazon websites as 'notorious markets' and Amazon says it's political bullying waw palanya glowing syekali sampe gagal fokeus ku menatapnya..... Is protecting people from your crimes bullying, amazon? Bullying of the richest company on earth - who refuses to take any responsibility for counterfeit selling of products on their platform.
Источник: BusinessInsider - 🏆 729. / 51 Прочитайте больше »