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Amazon (AMZN) revenue in the second quarter of 2020



Amazon CEO Jeff Bezos

Alexas Wongas | Getty images

Amazon will announce its fiscal second-quarter earnings after the market closes on Thursday.

Here are Wall Street expectations for Amazon:

  • Earnings: $ 1.46 per share is expected, according to analysts polled by Refinitiv
  • Revenue: $ 81
    .56 billion expected, analysts polled by Refinitiv say

Coronavir-related investments will have a significant impact on the company’s revenue.

In its first-quarter earnings report, Amazon said it will spend the full projected $ 4 billion profit from April to June on employee safety measures and improvements to delivery processes. Some investments include the purchase of personal protective equipment, “less efficient process pathways” to alienate the public, higher hourly wages, and the development of Covid-19 testing capabilities.

Bezos acknowledged that the company was not operating under “normal circumstances” and that, as a result, shareholders “may want to take a seat.”

Amazon has dealt with double crises since March. This was met with a major push by warehouse workers across the country who said Amazon had not done enough to keep them safe, leading to a cash holiday and widespread public criticism.

At the same time, its execution operations were extremely tense as it faced large volumes of online orders, which led to delivery delays and supply chain problems. Due to the huge demand for products such as toilet paper and hand sanitary ware, the company eventually opted for the transportation of essential goods at its execution centers. Bezos described the situation as “the most difficult time we have ever faced.”

Uncertainty over the coronavirus crisis has forced Amazon to postpone its annual Prime Day shopping event, which usually takes place in mid-July. The company has not set a new date, but notices sent to third-party vendors suggest it may be held on October 5th.

Thursday’s earnings report will mark the first time Amazon has reported second-quarter results, not to mention sales from Prime Day.

Despite these challenges, Amazon has been one of the biggest beneficiaries of the pandemic as e-commerce activity has grown and businesses have increasingly relied on cloud computing services, including Amazon Web Services.

Analysts polled by Refinitiv expect the pandemic to push double-digit growth to Amazon’s top line in the second quarter. Analysts for the third quarter have revenue of $ 86.29 billion.

Amazon shares have risen more than 60% since the end of Wednesday.

This is news. Check for updates.


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