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Amazon Reports Retail Surge, Says Pandemic Investments to Eat Profits

By
Nick Wingfield
· · Source: The Information

Amazon didn’t disappoint wide expectations that its internet retail business would see a surge from the coronavirus pandemic, as sales jumped 26% to $75.5 billion during the first quarter. But Amazon CEO Jeff Bezos warned that the company will sacrifice all of its second quarter operating profit on expenses related to the outbreak, including developing its own Covid-19 tests for employees,...

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