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Amazon CEO Andy Jassy speaks during a keynote address at AWS re:Invent 2024, a conference hosted by Amazon Web Services, at The Venetian Las Vegas on December 3, 2024 in Las Vegas, Nevada.

Noah Berger | Getty Images

Amazon CEO Andy Jassy looked to reassure investors on the company’s first-quarter earnings call on Thursday, saying he’s “optimistic” the retail giant could emerge from the current tariff environment stronger than before.

“Given our really broad selection, low pricing and speedy delivery, we have emerged from these uncertain eras with more relative market segment share than we started and better set up for the future,” Jassy said. “I’m optimistic this could happen again.”

Jassy pointed to the Covid pandemic as an example of how the company’s broad selection and low prices helped “customers find what they want,” despite persistent economic uncertainty. Amazon was a big beneficiary of the coronavirus crisis, as many shoppers shunned physical stores and turned to the online retailer for both essential and non-essential goods. The company’s profit soared, along with its stock price.

The comments followed Amazon’s first-quarter earnings report, where the company beat expectations, but its operating income forecast for the current period came in light.

The company projected operating profit of $13 billion to $17.5 billion, compared with consensus estimates of $17.8 billion, according to LSEG. Amazon called out “tariff and trade policies” as one of several factors that could impact its guidance.

Amazon CFO Brian Olsavsky said there continues to be uncertainty around President Donald Trump’s sweeping tariffs, which caused the company to issue a wider guidance range.

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“We generally have a wide range, but just the general uncertainty that we’re seeing and uncertainty of consumer demand and everything else is causing us to increase the range a bit,” Olsavsky said. “So we’ll see. We feel it’s an informed view of Q2 right now.”

Amazon and some third-party sellers “have pulled forward a number of items” in anticipation of the tariffs and to keep prices low, Jassy said.

As much as 70% of goods on Amazon come from China, meaning they’re exposed to higher import costs. Jassy said that while some sellers may have to pass those higher costs on to customers, not all of them will choose to raise prices.

“We have a lot of sellers in lots of different countries and not all of them are going to pursue the same tact,” Jassy said. “So I think when you’ve got larger diversity like we have, we have a better chance of some of those sellers deciding that they’re going to capture share and they’re not going to pass all or any of those tariffs on to customers.”

Jassy said the company is “heads down” and “pretty maniacally focused on” keeping prices low for consumers, though he acknowledged the outcome of the tariffs is hard to predict.

“It’s hard to tell what’s going to happen with tariffs right now,” he told investors. “It’s hard to tell where they’re going to settle and when they’re going to settle.”

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23andMe to delist from Nasdaq, deregister with SEC

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23andMe to delist from Nasdaq, deregister with SEC

A sign is posted in front of the 23andMe headquarters in Sunnyvale, California, on Feb. 1, 2024.

Justin Sullivan | Getty Images

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23andMe said it will file a Form 25 Notification of Delisting with the SEC on or around June 6, which would subsequently remove the stock from listing and registering with the Nasdaq.

The company said the Nasdaq had originally informed the company that a Form 25 would be filed in March, but since the exchange has not yet submitted the filing, 23andMe is doing so voluntarily.

23andMe exploded into the mainstream because of its at-home DNA testing kits that allowed customers to examine their genetic profiles. At its peak, the company was valued at around $6 billion.

But after going public via a merger with a special purpose acquisition company in 2021, the company struggled to generate recurring revenue and stand up viable research or therapeutics businesses.

Regeneron’s deal is still subject to approval by the U.S. Bankruptcy Court for the Eastern District of Missouri. Pending approval, it’s expected to close in the third quarter of this year.

WATCH: The rise and fall of 23andMe

The rise and fall of 23andMe

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Tesla shares climb as Musk pledges to be ‘super focused’ on companies ahead of Starship launch

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Tesla shares climb as Musk pledges to be 'super focused' on companies ahead of Starship launch

Elon Musk listens as reporters ask U.S. President Donald Trump and South Africa President Cyril Ramaphosa questions during a press availability in the Oval Office at the White House on May 21, 2025 in Washington, DC.

Chip Somodevilla | Getty Images

Tesla shares gained about 5% on Tuesday after CEO Elon Musk over the weekend reiterated his intent to home in on his businesses ahead of the latest SpaceX rocket launch.

The billionaire wrote in a post to his social media platform X that he needs to be “super focused” on X, artificial intelligence company xAI and Tesla as they launch “critical technologies” on the heels of a temporary outage.

“As evidenced by the uptime issues this week, major operational improvements need to be made,” he wrote, adding that he would return to “spending 24/7” at work. “The failover redundancy should have worked, but did not.”

An outage over the weekend briefly shuttered the social media platform formerly known as Twitter for thousands of users, according to DownDetector. Earlier in the week, the platform suffered a data center outage. X has suffered a series of outages since Musk purchased the platform in 2022.

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Musk has previously indicated plans to step away from his political work and prioritize his businesses.

During Tesla’s April earnings call he said that he would “significantly” reduce his time running President Donald Trump‘s Department of Government Efficiency.

In the last election cycle, Musk devoted time and billions of dollars to political causes and toward electing Trump in 2024. However, a story over the weekend from the Washington Post, citing sources familiar with the matter, said that Musk has grown disillusioned with politics and wants to return to managing his businesses.

Last week, Musk said in an interview at the Qatar Economic Forum that he planned to spend “a lot less” on campaign donations going forward.

The comments from Musk precede SpaceX’s Starship rocket Tuesday evening. Pressure is on for the company after two Starship rockets exploded in January and March.

Ahead of the launch, Musk announced an all hands livestream on X at 1 p.m.

Tesla is still facing fallout from Musk’s political foray, with protests at showrooms and other brand damage.

In April, Tesla sold 7,261 cars in Europe, down 49% from last year, according to the European Automobile Manufacturers’ Association.

WATCH: Elon Musk: We have seen a major rebound in demand

Elon Musk: We have seen a major rebound in demand

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Trump advisor Hassett says ‘we don’t want to harm’ Apple with iPhone tariffs

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Trump advisor Hassett says 'we don't want to harm' Apple with iPhone tariffs

NEC Director Kevin Hassett on Trump's iPhone tariff threat: In the end, we don't want to harm Apple

National Economic Council Director Kevin Hassett said Tuesday that the Trump administration does not want to “harm Apple” with tariffs.

“Everybody is trying to make it seem like it’s a catastrophe if there’s a tiny little tariff on them right now, to try to negotiate down the tariffs,” Hassett told CNBC’s “Squawk Box” on Tuesday. “In the end, we’ll see what happens, we’ll see what the update is, but we don’t want to harm Apple.”

Hassett’s comments come after President Donald Trump said in a social media post that Apple will have to pay a tariff of 25% or more for iPhones made outside the U.S. Apple has historically manufactured its products in foreign countries including China, India and Vietnam.

“I have long ago informed Tim Cook of Apple that I expect their iPhone’s that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,” Trump wrote in the post. “If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S. Thank your for your attention to this matter!”

By some estimates, a U.S.-made iPhone could cost as much as $3,500.

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“If you think that Apple has a factory some place that’s got a set number of iPhones that it produces and it needs to sell them no matter what, then Apple will bear those tariffs, not consumers, because it’s an elastic supply,” Hassett said.

Hasset’s comments continue the administration’s push to pressure companies to shoulder the cost burden of Trump’s tariffs, instead of raising prices for consumers.

Earlier this month, Trump told retail giant Walmart to “EAT THE TARIFFS” after the company warned it would have to pass those added costs on.

Shares of Apple were up more than 1% Tuesday.

Apple did not immediately respond to CNBC’s request for comment.

WATCH: NEC Director Kevin Hassett on Trump’s iPhone tariff threat: In the end, we don’t want to harm Apple

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