Month: April 2020

Amazon sees possible second-quarter loss as it forecasts $4 billion in COVID-19-related costs

(Reuters) – Amazon.com Inc (AMZN.O) on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19, providing staff with protective gear and raising hourly wages.

FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, April 22, 2020 after Amazon extended the closure of its French warehouses until April 25 included, following dispute with unions over health protection measures amid the coronavirus disease (COVID-19) outbreak. REUTERS/Pascal Rossignol

Shares of Amazon, the world’s largest online retailer, fell 5% in after-hours trade.

Online retailers have seen demand spike to levels more typical of the winter holiday season as governments around the world have ordered people indoors in efforts to contain the spread of the virus. Amazon has been at

Read More

Apple sales inch higher despite coronavirus but CEO Tim Cook sees uncertain future

(Reuters) – Apple Inc (AAPL.O) reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were “headed in the right direction” as that country reopens from the novel coronavirus.

FILE PHOTO: A municipal policeman wearing a protective face mask walks past the closed Apple store on the Champs-Elysees avenue in Paris as a lockdown is imposed to slow the rate of the coronavirus disease (COVID-19) in France, April 16, 2020. REUTERS/Charles Platiau/File Photo

But Cook said it was impossible to forecast overall results for the current quarter because of uncertainty created by the virus.

With its global brand, few American companies have been exposed to the spread of the coronavirus like Apple, whose iPhone sales declined in the March quarter as device sales were forced to online-only in many places. Sales of services such as streaming television content rose

Read More

Amazon sees $4 billion in COVID-19-related costs, may not make second-quarter profit

(Reuters) – Amazon.com Inc (AMZN.O) on Thursday said it could post its first quarterly loss in five years because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workers for COVID-19 and providing them with protective gear, and paying higher wages.

FILE PHOTO: The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, April 22, 2020 after Amazon extended the closure of its French warehouses until April 25 included, following dispute with unions over health protection measures amid the coronavirus disease (COVID-19) outbreak. REUTERS/Pascal Rossignol

Shares of Amazon fell 5% in after-hours trade.

Online retailers have seen demand spike to levels more typical of the winter holiday season as governments around the world have ordered people indoors in efforts to contain the spread of the virus. Amazon, the world’s largest online retailer, has been

Read More

Apple reports higher sales as China reopens after coronavirus but gives no forecast

(Reuters) – Apple Inc (AAPL.O) reported sales and profits that beat Wall Street expectations Thursday, with Chief Executive Officer Tim Cook saying China sales were “headed in the right direction” as that country reopens from the novel coronavirus.

FILE PHOTO: The logo of U.S. technology company Apple is seen at a branch office in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann

But Cook said it was impossible to forecast overall results for the current quarter because of uncertainty created by the virus.

With its global brand, few American companies have been exposed to the spread of the coronavirus like Apple, whose iPhone sales declined in the March quarter as device sales were forced to online-only in many places. Sales of services such as streaming television content rose with billions of people locked in their homes. China, where the virus was first detected, is both a major market for

Read More