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Amazon investors told to 'take a seat' as demand jumps
Amazon sales surged in the first three months of the year, as the coronavirus lockdown boosted demand for the firm's groceries, online market and cloud computing services.To get more news about WikiFX, you can visit wikifx official website.
Sales in the quarter jumped 26% year-on-year and the firm said they could rise another 28% in the next.
But the internet giant warned investors the gains won't translate into profits.
It said it would spend roughly $4bn (£3.2bn) on coronavirus measures through June.
“If you're a shareowner in Amazon, you may want to take a seat because we're not thinking small,” said Amazon's chief executive Jeff Bezos.
“I'm confident that our long term-oriented shareowners will understand and embrace our approach.”