The Amazon quarterly figures surprise. The group is making its first quarterly loss in 7 years.
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Amazon reports first quarterly loss since 2015.
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The shipping giant Amazon has now announced its quarterly figures and these are surprisingly bad. Amazon posted its first quarterly loss in seven years, the Wall Street Journal (WSJ) also reported.
Weakest growth in two decades
Although sales increased by seven percent to $116.4 billion, this is also the weakest growth for the shipping giant in around two decades. First-quarter operating profit fell about 58 percent year-on-year to $3.7 billion.
It seems that customers are increasingly returning to their pre-pandemic shopping habits – but other factors also seem to play a role for the group.
“The pandemic and subsequent war in Ukraine have created unusual growth and challenges”
according to Amazon CEO Andy Jassy.
The net loss even amounts to around 3.8 billion US dollars, which was mainly due to the write-off of the shares in the electric car manufacturer Rivian – these amounted to 7.6 billion US dollars.
Amazon shares fell 10 percent
The Amazon share has meanwhile fallen by more than ten percent – because the forecast for the current quarter was also disappointing. Amazon announced revenue of between $116 billion and $121 billion, which would represent growth of only three to seven percent year-over-year.
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