Movies

AWS Ahead: Amazon Shares Under Pressure After Market: Amazon With Strong Profit Setback – Disappointing Growth | news

Business at the world’s largest online retailer, Amazon, is surprisingly bad. Operating profit plunged in the first quarter compared to the same period last year by 58 percent to 3.7 billion dollars (3.5 billion euros), as announced by the group on Thursday after the close of the US stock exchange in Seattle. . Sales increased 7% to $ 116.4 billion – Amazon experienced the weakest growth in about two decades. The pandemic and the war in Ukraine have led to “unusual challenges,” said Amazon CEO Andy Jassy.

The bottom line is that the group even suffered a net loss of $ 3.8 billion, mainly due to the correction of the 7.6 billion book value of a stake in electric car maker Rivian Automotive.

Investors are unconvinced after quarterly report unveiling, Amazon shares fell 7.53% to $ 2,680.50 in after-hour trading on NASDAQ. The outlook for the current quarter has also been disappointing. Amazon announced revenues of between $ 116 billion and $ 121 billion, which would correspond to an increase of between three and seven percent year-on-year.

Editorial financeen.net / SEATTLE (dpa-AFX)

Selected leveraged products on AmazonWith knock-outs, speculative investors can participate disproportionately in price movements. Just select your desired leverage and we’ll show you the suitable products on Amazon

The leverage must be between 2 and 20

No data

More news on Amazon

Image sources: Jonathan Weiss / Shutterstock.com, Ken Wolter / Shutterstock.com

About the author

hiyabad

Leave a Comment