Amazon Posts First Quarterly Loss Since 2015 as Costs, Rivian Stake Weigh on Results

Amazon.com posted its first quarterly loss in seven years, a result that reflected broad economic trends related to a slump in online shopping, higher costs from inflation and supply-chain woes and market jitters over electric vehicle startups.

Revenue for the tech giant rose by about 7% for the January-to-March period, the slowest pace in about two decades as consumers returned to prepandemic habits and spent more money in person at stores. It lost $ 3.8 billion in the quarter, compared to a profit of $ 8.1 billion a year ago, when a surge in online orders due to the pandemic lifted Amazon’s prospects.

Leave a Reply

Your email address will not be published. Required fields are marked *