Cloud computing results offset slipping online sales as well as inflation and supply chain pressures Read More...
Associated Press
Amazon posts 2Q loss but revenue tops estimates, stock jumps
Amazon on Thursday reported its second-consecutive quarterly loss but its revenue topped Wall Street expectations, sending its stock sharply higher. Amazon lost $2.03 billion, or 20 cents per share, in the three-month period ended June 30, driven by a $3.9 billion write-down of the value of its stock investment in electric vehicle start-up Rivian Automotive. It posted a loss of $3.84 billion in this year’s first quarter, its first quarterly loss since 2015, which was also marked by a large Rivian write-down.
Add Comment