Amazon CEO Andy Jassy speaks during a keynote address at AWS re:Invent 2024, a conference hosted by Amazon Web Services, at The Venetian Las Vegas on December 3, 2024 in Las Vegas, Nevada.
Noah Berger | Getty Images
Amazon CEO Andy Jassy looked to reassure investors on the company’s first-quarter earnings call on Thursday, saying he’s “optimistic” the retail giant could emerge from the current tariff environment stronger than before.
“Given our really broad selection, low pricing and speedy delivery, we have emerged from these uncertain eras with more relative market segment share than we started and better set up for the future,” Jassy said. “I’m optimistic this could happen again.”
Jassy pointed to the Covid pandemic as an example of how the company’s broad selection and low prices helped “customers find what they want,” despite persistent economic uncertainty. Amazon was a big beneficiary of the coronavirus crisis, as many shoppers shunned physical stores and turned to the online retailer for both essential and non-essential goods. The company’s profit soared, along with its stock price.
The comments followed Amazon’s first-quarter earnings report, where the company beat expectations, but its operating income forecast for the current period came in light. Amazon projected operating profit of $13 billion to $17.5 billion, compared with consensus estimates of $17.8 billion, according to LSEG. The company called out “tariff and trade policies” as one of several factors that could impact its guidance.
This is breaking news. Please refresh for updates.
