Amazon Misses EPS Beats Revenues, $4B COVID related expenses

INNO

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

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