Amazon reported Q1 EPS of $5.010 falling short of wallstreet analysts expectation of $6.250, however Amazons reported $75.5B in revenues to top analysts prediction.
From Amazon Earnings Conference Call
- Large portion of $4B will be spent on impact to productivity of social distancing practices in warehouses, increased wages, overtime for workers.
- Saw big increase in grocery sales in March (more than 60%)
- Lower demand for Discretionary producst such as apparel, shoes and wireless products
- Seeing more of Prime Video Benefits
- Video Rentals Have been up