REUTERS: Amazon.com Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that might curb future profits after a blockbuster first quarter.
Second-quarter operating income will be as much as US$3.6 billion, but analysts had been expecting US$4.2 billion, according to FactSet.Chief Financial Officer Brian Olsavsky said Amazon was still reaping rewards from prior years of hiring and investments in warehouses and other infrastructure. The news marks a familiar refrain for the world's largest online retailer. For years, Amazon has made expensive bets on new technology and programs, like its US$13.7 billion purchase of Whole Foods Market in 2017 to become a player in the US grocery business.Amazon's investments had long meant lower profit. However, its steady, often successful marches into new industries have been lucrative to shareholders, including its founder Jeff Bezos, who had become the richest man in the world.
"Amazon delivered slower growth in all key segments – AWS, advertising and e-commerce – but margins skyrocketed, seemingly driven by less aggressive investment," said Atlantic Equities analyst James Cordwell.The company has been building warehouses around the world to ensure its edge in delivering goods to customers the fastest.
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