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Podcast: Bloomberg Daybreak: US Edition
Episode: Instant Reaction: Amazon Gives Weak Forecast on Trade Concerns
Description: Amazon.com gave a weaker-than-expected forecast for operating profit in the current quarter, pointing toward tariffs and trade policies that may cause consumers to pull back on spending. The world’s largest online retailer projected operating profit of $13 billion to $17.5 billion, compared with an average estimate of $17.8 billion. Sales will be $159 billion to $164 billion in the period ending in June, the company said Thursday in a statement. Analysts, on average, expected $161.4 billion.Amazon shares have fallen about 13% this year as Wall Street weighs the impact of President Donald Trump’s tariffs on a retail operation that sources much...