0
Broadband

Amazon revenues jump in Q1 but profit takes a backseat on covid-19-related expenses

Friday 1 May 2020 | 09:26 CET | News
Amazon reported revenues up 26 percent from the year before in the first quarter to USD 75.5 billion, beating expectations, but profit came under pressure from higher costs amid the coronavirus pandemic, with the operating profit down to USD 4.0 billion from 4.4 billion and the net profit off at USD 2.5 billion or USD 5.01 per diluted share, from 3.6 billion and 7.09 per share. Operating expenses jumped to USD 71.463 billion from 55.280 billion. Looking ahead, CEO Jeff Bezos told shareholders to "take a seat, because we are not thinking small." Amazon plans to plow its USD 4 billion

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Internet
Companies: Amazon
Countries: World
::: add a comment
This article is part of dossier

Coronavirus


Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Summary of international coronavirus-related telecoms and media news - week 18

Published 04 May 2020 08:51 CET | World
Telecom traffic: Reports of traffic sharply up are still coming in. The OECD and BEREC provided their periodic assessments....

Amazon, Twitch to again distribute NFL Thursday Night Football worldwide

Published 29 Apr 2020 17:18 CET | World
The National Football League (NFL) has signed a new distribution deal with Amazon for the live digital stream of its Thursday ...

Amazon donates USD 3.9 mln to CodeVA to expand computer science education

Published 29 Apr 2020 09:25 CET | United States
Amazon said it will donate USD 3.9 million to CodeVA through 2022 to support their long-term plan to offer computer science ...

AWS launches new Milan region

Published 28 Apr 2020 10:34 CET | Italy
Amazon Web Services (AWS) has opened a new infrastructure region in northern Italy, its sixth in Europe, joining Paris, ...

AWS launches availability region in South Africa

Published 22 Apr 2020 12:01 CET | Africa
Amazon Web Services (AWS) has announced the opening of the AWS Africa region, in Cape Town, South Africa. With the launch, AWS ...

Amazon commits USD 10 mln to forest conservation in US

Published 22 Apr 2020 09:47 CET | United States
Amazon announced a USD 10 million grant to conserve, restore, and support sustainable forestry, wildlife and nature-based ...

Ergon adds Amazon Web Services as partner

Published 21 Apr 2020 11:13 CET | Switzerland
Swiss IT services provider Ergon, based in Zurich, said that it has become an official partner of Amazon Web Services. The ...

HPE, IBM, Amazon, Microsoft, Facebook sign Covid-19 open source patents pledge

Published 21 Apr 2020 09:48 CET | World
Hewlett Packard Enterprise (HPE) announced that it's joining other tech giants including IBM, Amazon, Microsoft and Facebook in ...

Pentagon may reconsider aspects of cloud contract - court ruling

Published 20 Apr 2020 10:08 CET | United States
last week from starting on the Pentagon's Jedi cloud-computing contract, a federal judge has now said the Pentagon can ...

Amazon starts Prime Video ad campaign on Dutch TV

Published 06 Apr 2020 15:21 CET | Netherlands
Amazon has started an ad campaign on Dutch TV to promote its new Prime offer in the country. The ads focus on the Prime Video ...

Amazon to postpone Prime Day event due to coronavirus - report

Published 06 Apr 2020 11:13 CET | United States
Amazon is postponing its major summer shopping event, Prime Day, until at least August and expects to lose USD 100 million due to ...

Covid-19 to have long-lasting impact on business telecom market

Published 02 Apr 2020 15:02 CET | Europe
The immense, sudden impact of the global Covid-19 pandemic has created enormous challenges for businesses, governments and ...

Amazon Prime adds in-app purchases in iOS app

Published 02 Apr 2020 08:53 CET | United States
Amazon Prime Video has started offering in-app purchases to customers with iOS devices. As a result, they can pay through their ...

Amazon lifts profit in Q4 despite weak international ops, sees mixed Q1

Published 31 Jan 2020 09:30 CET | World
Amazon said revenues for its fourth quarter advanced to USD 87.4 billion from 72.4 billion the year before, including a negative ...