The company expects to plow its entire Q2 operating profit back into "getting products to customers and keeping employees safe.”
“There’s a lot of cost in the short run” from expanding the free one-day delivery program, CFO Brian Olsavsky says.
The company "has entered a new era with comparatively sluggish sales growth, but a consistently profitable business.”
“The question for investors now is if Amazon can grow profits fast enough to make up for slowing revenue growth."
CFO Brian Olsavsky defends the company's heavy spending, saying "We are continuing to invest in businesses that ... can last for decades."
Fourth-quarter net sales of $3.54 billion fell short of analysts' estimates but net income rose 55% to $749 million.
The change comes as CEO Jeff Bezos fields accusations that he's too focused on areas outside the company's core online retail business.
