Amazon expects spring windfall as U.S. economy reopens, posts record profits

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By Jeffrey Dastin and Akanksha Rana
(Reuters) -Amazon.com Inc posted record profits from pandemic shopping and indicated sales would keep growing even as customers emerged from their homes in the reopening U.S. economy.
Since the start of the coronavirus outbreak, shoppers have relied increasingly on Amazon for delivery of home staples and supplies. While brick-and-mortar stores closed, Amazon has now posted four consecutive record quarterly profits, attracted more than 200 million Prime loyalty subscribers, and recruited over 500,000 employees to keep up with surging demand.
Amazon said it expects operating income for the current quarter to be between $4.5 billion and $8 billion, which assumes about $1.5 billion of costs related to COVID-19.
Shares rose 4% in after-hours trade.
Throughout the ...


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