Amazon Air axes smaller-volume routes while boosting US hub flows
Like the integrated express carriers, Amazon is transforming its air network, reducing flights but boosting ...
YAHOO FINANCE reports:
Amazon (AMZN) reported first quarter earnings on Thursday that beat expectations and sent shares soaring in after hours trading.
Amazon stock popped as much as 10% late Thursday* as investors digested revenues, profits, margins, and current quarter guidance that all beat Wall Street expectations.
[PS: Flattish Friday start of trade expected, given its price in pre-market.]
“There’s a lot to like about how our teams are delivering for customers, particularly amidst an uncertain economy,” Amazon CEO Andy Jassy said in a statement.
The company’s efforts to rein in costs, which cost Amazon about $500 million in the first quarter, are expected to be a central focus on the company’s earnings call Thursday evening. The company has announced plans to lay off a total of 27,000 employees over the last few months…
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