Amazon shares plummeted as much as 10% in extended trading on Thursday after the company issued a revenue forecast that trailed analysts’ estimates.
Here’s how the company did:
- Loss: Loss per share of $7.56
- Revenue: $116.44 billion vs. $116.3 billion expected, according to Refinitiv
Amazon recorded a $7.6 billion loss on its Rivian investment after shares in the electric vehicle company lost more than half their value in the quarter. That resulted in a total net loss of $3.8 billion.
Amazon said it expects second-quarter revenue of $116 billion to $121 billion. Analysts were projecting sales of $125.5 billion, according to Refinitiv.
Here’s how other key Amazon segments did during the quarter:
- Amazon Web Services: $ 18.44 billion vs. $18.27 billion expected, according to StreetAccount
- Advertising: $7.88 billion vs. $8.17 billion expected, according to StreetAccount
https://www.businesswire.com/news/home/20220427006081/en/Amazon.com-Announces-First-Quarter-Results
https://www.cnbc.com/2022/04/28/amazon-amzn-q1-2022-earnings.html
https://finance.yahoo.com/news/amazon-earnings-192732345.html
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