Amazon Posts First Quarterly Loss Since 2015 as Prices, Rivian Stake Weigh on Outcomes posted its first quarterly loss in seven years, a end result that mirrored broad financial tendencies associated to a droop in on-line procuring, greater prices from inflation and supply-chain woes and market jitters over electrical car startups.

Income for the tech big rose by about 7% for the January-to-March interval, the slowest tempo in about 20 years as shoppers returned to prepandemic habits and spent extra money in particular person at shops. It misplaced $3.8 billion within the quarter, in contrast with a revenue of $8.1 billion a yr in the past, when a surge in on-line orders because of the pandemic lifted Amazon’s prospects.

Source link