Amazon cited restrictions on ecommerce deliveries imposed by India in the ongoing lockdown to stem the spread of Covid-19, as the reason for its business in the world’s fifth largest economy being the most impacted by the pandemic, even as the American giant recorded a sharp spike in its overall revenue for the first quarter […]
Archives for May 2020
Amazon sees possible Q2 loss as it forecasts $4 billion in Covid-19-related costs
Amazon on Thursday said it could post its first quarterly loss in five years even as revenue surges because it is spending at least $4 billion in response to the coronavirus pandemic, including plans to test its workforce for COVID-19. Shares of Amazon, the world’s largest online retailer, fell 5% in after-hours trade. Jeff Bezos, […]
Digital ad market is avoiding coronavirus disaster, say tech giants
Reports of the demise of the digital advertising market due to the coronavirus outbreak appear exaggerated as the tech giants dominating the online ads business, Google and Facebook, said this week they saw early signs that the worst could be over. Their remarks countered Wall Street expectations of a devastation of the market as hard-hit […]