Categories: Tech

Amazon grows on the stock market, despite reporting losses of $ 2 billion

Yesterday the actions of Amazon I am grew by 11% on the stock marketalthough the e-commerce giant scored one loss of two billion dollars in the second quarter of 2022. This is because the losses recorded were lower than expected and above all linked to the acquisition of Rivian.

Amazon announces second quarter 2022 results

Amazon last year posted net gains from $ 7.8 billion, while in 2022 it loses 2 billion. But the results have equally pleased Wall Street, which is rewarding the company’s stock. This is because expectations, after two quarters in which the acquisition of Rivian weighed negatively on the company’s coffers, were much worse.

Total sales, on the other hand, grew by 7%generating income for well 121.2 billion dollars (compared to 113.1 billion last year). Wall Street expected them to hit $ 119.3 billion, less than when the company knew how to do it.

Online store sales are dropped by 4.3% to close at $ 50.89 billion. But they were compensated by the other corporate businesses. Losses last quarter were $ 3.84 billion, so there was a net improvement.

Amazon CEO Andy Jassy comments: “Despite the continued inflationary pressure of fuel, energy, and transportation costs, we are making progress on the more controllable costs we referred to last quarter, especially the improving the productivity of our network “.

If online sales drop, the Amazon Web Services (AWS) they scored revenue from 19.74 billion dollars and a jump of + 33% than last year. The future of Amazon’s cloud business may be the right push to revive the entire company.

Published by
Walker Ronnie

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