{"id":101899,"date":"2020-10-30T17:43:03","date_gmt":"2020-10-30T14:43:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/amazon-says-covid-related-expenses-will-cost-4b-this-quarter\/"},"modified":"2020-10-30T17:43:03","modified_gmt":"2020-10-30T14:43:03","slug":"amazon-says-covid-related-expenses-will-cost-4b-this-quarter","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/amazon-says-covid-related-expenses-will-cost-4b-this-quarter\/","title":{"rendered":"#Amazon says COVID-related expenses will cost $4B this quarter"},"content":{"rendered":"

“#Amazon says COVID-related expenses will cost $4B this quarter<\/strong>”
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\n By the time this fiscal quarter is through, Amazon estimates it will have spent more than $11 billion on coronavirus-related expenses.<\/p>\n

The e-commerce titan said during its Thursday earnings report that it expects to spend around $4 billion battling the virus, on top of the $7.5 billion in costs it has already rung up since March.<\/p>\n

First quarter coronavirus expenses cost Amazon $600 million, with the number ballooning to $4 billion during the peak of the pandemic and decreasing slightly to $2.5 billion in the most recent quarter, the company said.<\/p>\n

Investments included personal protective equipment for Amazon\u2019s workforce \u2014 which it announced on Thursday has hit 1 million \u2014 \u201cenhanced cleaning\u201d of its facilities, higher wages for hourly workers as well as \u201chundreds of millions\u201d of dollars for Amazon to develop its coronavirus testing capabilities.<\/p>\n

Much of the increased costs are related to \u201cthe large influx of new employees hired to support strong customer demand,\u201d CFO Brian Olsavsky said on a call with analysts.<\/p>\n

The Seattle-based e-tailer\u2019s guidance on operating income for the quarter was $1.5 billion to $4 billion, and already factored in the Covid-related spending.<\/p>\n

Olsavsky said that the pandemic, along with the upcoming election and the fact that the company\u2019s Prime Day shopping extravaganza was delayed until October this year, has created a lot of uncertainty for the holiday quarter.<\/p>\n

Shares of Amazon were down 4 percent Friday morning, trading at $3,082.99.\n <\/p><\/div>\n

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If you want to read more News<\/a> articles, you can visit our News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Amazon says COVID-related expenses will cost $4B this quarter” By the time this fiscal quarter is through, Amazon estimates it will have spent more than $11 billion on coronavirus-related expenses. The e-commerce titan said during its Thursday earnings report that it expects to spend around $4 billion battling the virus, on top of the $7.5…<\/p>\n","protected":false},"author":1,"featured_media":101900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/10\/Amazon-Warehouse-1-1.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[77729,2758,1545,77891],"class_list":["post-101899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-10-30-20","tag-amazon","tag-coronavirus","tag-e-commerce"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/101899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=101899"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/101899\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/101900"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=101899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=101899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=101899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}