Author: Cameron Faulkner
Illustration by Alex Castro / The Verge
Amazon CEO Jeff Bezos warned investors earlier this year that they might want to take a seat and prepare for a possible loss in Q2, as the company planned to spend $4 billion — all of its expected Q2 operating profit — on COVID 19-related expenses. Amazon projected a potential loss of $1.5 billion this quarter. But with the end of Q2 now behind us, Amazon shared its quarterly results, and they’re quite the opposite of gloomy.
Despite the pandemic, Amazon doubled its net profit year over year to $5.2 billion, compared to $2.6 billion at this time in 2019. This impressive figure comes after the company spent over $4 billion on what Bezos describes as “incremental COVID-19 related costs in the quarter to help keep employees safe and...
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Amazon CEO Jeff Bezos warned investors earlier this year that they might want to take a seat and prepare for a possible loss in Q2, as the company planned to spend $4 billion — all of its expected Q2 operating profit — on COVID 19-related expenses. Amazon projected a potential loss of $1.5 billion this quarter. But with the end of Q2 now behind us, Amazon shared its quarterly results, and they’re quite the opposite of gloomy.
Despite the pandemic, Amazon doubled its net profit year over year to $5.2 billion, compared to $2.6 billion at this time in 2019. This impressive figure comes after the company spent over $4 billion on what Bezos describes as “incremental COVID-19 related costs in the quarter to help keep employees safe and...
Continue reading…
Continue reading...