Amazon’s Ad Business Proved a Highlight Amid Wider Q1 Earnings Miss

Sales hit $75.5 billion but income dropped $1 billion from a year ago

coronavirus spilling out of shopping basket under Amazon logo
Amazon forecast $4 billion in costs related to Covid-19 during Q2. Sources: Getty Images, Amazon

Amazon’s share price dropped 5% in the immediate hours after trading closed Thursday as the company reported a mixed performance for the first quarter of 2020, with sales beating expectations but income dropping.

@ronan_shields Ronan Shields is a programmatic reporter at Adweek, focusing on ad-tech.