⁍ Shares initially rose 2% before paring gains and remaining 1% lower in after-hours trading.
⁍ Consumers have turned increasingly to Amazon for delivery of groceries, home goods and medical supplies.
⁍ More than 19,000 of Amazon’s U.S. employees contracted COVID-19.
– With the H1N1 virus winding down, Amazon is looking forward to an “unprecedented holiday season,” CEO Jeff Bezos says. “We’re seeing more customers than ever shopping early for their holiday gifts, which is just one of the signs that this is going to be an unprecedented holiday season,” Bezos said in a press release, per Reuters. Amazon’s forecast of $112 billion to $121 billion in fourth-quarter sales—which would be its first $100 billion in sales—was above analysts’ expectations of $111 billion, the Wall Street Journal reports. The company’s net income for the third quarter of 2014 was a record $6.3 billion, Reuters notes. “While it was clear that the pandemic-driven shift to ecommerce would keep Amazon’s topline elevated, it surprised by easily surpassing an already high bar,” an analyst says.
Source: https://www.reuters.com/article/us-amazon-com-results/amazon-forecasts-jump-in-holiday-sales-and-pandemic-costs-idUSKBN27E3DV