Tech

Amazon posted its first quarterly loss since 2015, when spending, Rivian’s bid weighs results

Amazon.com published the first quarterly loss in seven years, a result that reflects broad economic trends related to falling online stores, rising costs due to inflation and supply chain problems and market unrest due to the launch of electric vehicles.

The tech giant’s revenue grew by about 7% between January and March, the slowest pace in about two decades as consumers returned to pre-pandemic habits and spent more money in person in stores. It lost $ 3.8 billion for the quarter compared to revenue of $ 8.1 billion a year ago when a surge in online orders due to the pandemic boosted Amazon’s outlook.

Amazon posted its first quarterly loss since 2015, when spending, Rivian’s bid weighs results

Source link Amazon posted its first quarterly loss since 2015, when spending, Rivian’s bid weighs results

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