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Amazon Reports Mixed Q1 Results As Jeff Bezos Vows Massive COVID Response: “We’re Not Thinking Small”
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deadline.comBy Dade Hayes Finance Editor Amazon, whose operations have been put to an extreme test during the coronavirus outbreak, posted mixed first-quarter earnings.
Founder and CEO Jeff Bezos issued a remarkably assertive statement along with the the company’s earnings, saying the tech giant is “not thinking small” and plans to plow billions of profits back into its COVID-19 response.
Revenue rose 26% to $75.5 billion, ahead of expectations, but pandemic-related expenses dragged down earnings per share to $5.01, off 31% from the same period a year ago.
Shares in the tech giant sold off in after-hours trading but have bucked the market’s broader selloff in recent months, hitting new highs and closing Thursday at $2,474 after establishing yet
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