FTC Grills Jeff Bezos Over Use Of Signal's Auto-Delete Feature Amid Amazon's Antitrust Suit: 'I Can Make A Mistake'
Portfolio Pulse from Ananya Gairola
Jeff Bezos, founder of Amazon.com Inc. (NASDAQ:AMZN), was questioned by the FTC over his use of Signal's auto-delete feature amid an antitrust lawsuit. Bezos admitted to possibly making mistakes in using the app for sensitive company issues but denied using it for complicated business matters. Despite the FTC's concerns, Amazon reported strong Q1 earnings in 2024, with net sales of $143.3 billion, a 13% increase from the previous year.
May 04, 2024 | 5:09 am
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Amazon's Jeff Bezos faced FTC scrutiny over Signal's auto-delete feature use amid an antitrust lawsuit. Despite this, Amazon reported a strong Q1 in 2024 with significant sales growth.
The FTC's questioning of Bezos could raise concerns among investors about potential legal challenges. However, the strong Q1 earnings report for 2024 indicates robust financial health and operational success, likely offsetting short-term negative impacts from the legal scrutiny. The positive earnings report and sales growth are critical factors that could drive investor confidence and positively impact AMZN's stock price in the short term.
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