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 end result that mirrored broad financial tendencies associated to a slump in online shopping, increased prices from inflation and supply-chain woes and market jitters over electrical car startups.

Income for the tech large rose by about 7% for the January-to-March interval, the slowest tempo in about twenty years as shoppers returned to prepandemic habits and spent extra money in individual at shops. It lost $3.8 billion within the quarter, in contrast with a revenue of $8.1 billion a 12 months in the past, when a surge in online orders due to the pandemic lifted Amazon’s prospects.

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