After AMZN released its earnings report, the stock price continued to fall, hitting a two-year low. Continued lower this week.

AMZN reported a first-quarter loss of $3.84 billion, or $7.56 a share. In the first quarter of last year, Amazon reported a profit of $8.1 billion, or $15.79 a share.

AMZN said Thursday that it expects second-quarter revenue to be in the range of $116 billion to $121 billion, below the average analyst estimate of $125.5 billion reported by CNBC. AMZN also reported that it lost $7.6 billion on its investment in electric vehicle maker Rivian.

In a statement about the quarterly results, Amazon CEO Andy Jassy said the company is focused on improving productivity and cost efficiency, but that will take time as Amazon continues to deal with inflation and supply chain pressures.

​

Amazon shares fell 12% on Friday morning after AMZN reported its first-quarter results, plunging to a two-year low.

On Monday, Amazon shares fell more than 3% again, continuing to decline.

https://press.aboutamazon.com/news-releases/news-release-details/amazoncom-announces-first-quarter-results-0

Did you buy Amazon stock? What do you think?