Amazon recorded its slowest-ever revenue growth in the first quarter amid a drop in online retail sales and heavy costs, and said its aggressive push to expand during the coronavirus pandemic had left it overstaffed and with excess capacity. Sales at Amazon’s online stores segment came in at $51.1bn in the January-March period, down from $52.9bn in the same period last year. The company recorded overall revenue of $116.4bn for the quarter, 7 per cent higher than last year. Read More...
Amazon recorded its slowest-ever revenue growth in the first quarter amid a drop in online retail sales and heavy costs, and said its aggressive push to expand during the coronavirus pandemic had left it overstaffed and with excess capacity. Sales at Amazon’s online stores segment came in at $51.1bn in the January-March period, down from $52.9bn in the same period last year. The company recorded overall revenue of $116.4bn for the quarter, 7 per cent higher than last year.
