Amazon sees possible 2nd-quarter loss as it forecasts $4 bn in COVID-19-related costs

Amazon.com Inc 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, the company’s founder and world’s richest person, said in a statement, “we’re not thinking small,” a sign that the e-commerce company would invest heavily during the pandemic. Rival brick-and-mortar retailers have had to shut stores while Amazon hired 175,000 people.