Direct and indirect implications of the COVID-19 pandemic on Amazon’s financial situation

Zixuan Qin, Abeer Hassan, Mahalaxmi Adhikariparajuli*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)
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We provide theoretical and empirical insights into the impact of COVID-19 on Amazon’s financial position. A longitudinal case study of Amazon’s financial situation during the 2016–2020 period, and time-series analysis, ratio analysis, and DuPont analysis, are employed as a quantitative methodology to explore Amazon’s financial situation changes before and after the COVID-19 pandemic. As for the robustness of the in-depth analysis, we compare Amazon’s financial performance and position with Walmart. The result shows that the COVID-19 pandemic did not have a huge negative impact on the companies’ financial performance because of its promotion of their development. However, this study provides an in-depth analysis of the influence of COVID-19 on Amazon’s financial situation, which financial aspects are most affected by COVID-19, which are not, and the company’s response to COVID-19. Therefore, this study sheds light on the accounting literature to demonstrate the impact of COVID-19 on Internet companies’ financial performance and provides some reference values for subsequent academic research.
Original languageEnglish
Article number414
Number of pages25
JournalJournal of Risk and Financial Management
Issue number9
Early online date19 Sep 2022
Publication statusPublished - 19 Sep 2022


  • COVID-19
  • Amazon
  • Financial statement analysis
  • DuPont analysis


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