Amazon announces Q1 sales increase with promise to spend Q2 profit on virus response

San Francisco: Amazon has announced a 26 per cent jump in sales in the first quarter, pledging to spend entire second-quarter operating profit on coronavirus response. The company’s net sales increased 26 per cent to US$75.5 billion (FJ$168 bn) in the first quarter, up from US$59.7 bn (FJ$133.24 bn) a year ago.

Excluding the US$387 million (FJ$ 864 m) negative impact from year-over-year changes in foreign exchange rates throughout the quarter, Amazon’s net sales increased 27 per cent from a year earlier, according to the first quarter result

The company expects its second-quarter net sales to be between US$75.0bn (FJ$167 bn) and US$81.0bn (FJ$181 bn), or to grow between 18 per cent and 28 per cent compared with the same period of 2019.