Amazon first-quarter profits dip as it warns of $4bn coronavirus costs

Bezos, Jeff

Amazon has reported in a decline in first-quarter profits and warned that earnings in its second quarter will be completely wiped out by costs related to coronavirus.

The etail titan said operating income dropped 9% to $4bn in the three months to March 31.

Net sales jumped 26% to $75.5bn during the same period as consumers across the globe bought more online during the pandemic. Stripping out what Amazon called the “unfavourable” impact of currency exchange rates, sales were up 27%.

Amazon boss Jeff Bezos said the business would make at least $4bn in operating profit during its second quarter “under normal circumstances”.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.