Authorization

Amazon pegs COVID-19 costs at an estimated $4 billion next quarter

Amazon expects to incur $4 billion in COVID-related costs next quarter, an estimate that provides a bellwether for other businesses, large and small, trying to stay operational and control expenses amid the pandemic.
The upshot: Amazon is planning for COVID to remain an unwelcome companion through the end of the year with costs higher than the previous quarter.
The company said Thursday in its third-quarter earnings call that it logged $7.5 billion in COVID-related costs since the disease took root earlier this year. Amazon previously said its COVID costs were about $600 million in the first quarter and more than $4 billion in the second. The company’s COVID costs in the third quarter were about $2.5 billion, CFO Brian Olsavsky told an analyst during an earnings call. While Amazon was able to lower its costs in the third quarter due to efficiencies that number is on rise for next quarter.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Декабрь 2020    »
ПнВтСрЧтПтСбВс
 123456
78910111213
14151617181920
21222324252627
28293031