Apr 30, 2020

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. The internet giant warned investors the gains won't translate into profits. That includes increasing spending on worker pay and safety precautions. "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. Investors anticipating a boost have sent Amazon shares up 30% this year.

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