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Amazon profit falls as pandemic-related costs rise

Online sales soared, but costs rose in the first quarter of 2020.

NEW YORK — Amazon's profit fell 29% in the first quarter as its costs for shipping millions of packages to home-bound customers rose. But the online retail behemoth said sales soared as more people are opting to shop online during the coronavirus pandemic.

Amazon founder and CEO Jeff Bezos says the company will likely spend at least $4 billion during the second quarter in order to speed up delivery times and buy masks and other protection equipment for workers in its warehouses and Whole Foods supermarkets.  

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