By Elaine Low Senior TV Writer Amazon earnings fell far below expectations when the e-commerce giant reported first-quarter results after the market close Thursday.
Though some on Wall Street had expected the Seattle-based tech giant to benefit from the increase in online shopping amid the ongoing coronavirus outbreak that has been keeping people at home, Amazon CEO Jeff Bezos said that the company will spend an expected $4 billion in operating profit on coronavirus-related expenses in Q2.
Bezos noted in the earnings release that the current coronavirus crisis is “demonstrating the adaptability and durability of Amazon’s business as never before, but it’s also the hardest time we’ve ever faced.” “Under normal circumstances, in this
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