Amazon told investors they ‘may want to take a seat,’ here’s what that means
That’s because Amazon has been giving investors some version of that warning since it went public in 1997, letting them know it would prioritize long-term business advantages over short-term gains.
Amazon said Thursday it would invest its expected $4 billion second-quarter profit in coronavirus-related efforts, including buying personal protective equipment for workers, stepping up cleaning in its facilities and building its own testing capability. The company said that due to the investment, it expects operating income for the quarter to be as high as $1.5 billion or as low as a loss of $1.5 billion.
The bold step is reflective of CEO Jeff Bezos’ approach since starting the business.
“We believe that a fundamental measure of our success will be …continued .
[Source: CNBC News]