Amazon says it risks loss as coronavirus pandemic increases expenses

Amazon.com Inc Chief Executive Officer Jeff Bezos normally uses the company’s earnings report to extol the virtues of Alexa or the benefits of Prime. On Thursday, he told investors to hold on tight, as his company navigates “the hardest time we’ve ever faced.”

The largest US online retailer saw profit shrink and said that it may incur a loss in the current quarter as it boosts spending to keep logistics operations running smoothly during the coronavirus pandemic.

“Under normal circumstances, in this coming Q2, wed expect to make some $4 billion or more in operating profit,” Bezos said on Thursday in a statement reporting Amazon’s results. “But these aren’t normal circumstances.