After slowing sales, "Amazon" records its first quarterly loss since 2015

Amazon posted its first quarterly loss since 2015, after slowing sales, rising costs and faltering online shopping, according to a report in the Wall Street Journal.

Amazon losses amounted to $ 3.8 billion in the first quarter of 2022, compared to profits of $ 8.1 billion in the same period during 2021, as online orders increased during the Corona pandemic.

Amazon’s results were affected by its share in the “Rivian” electric vehicle company, whose shares have fallen by more than 65% this year, while Amazon owns about 18% of the shares of this company, which incurred losses estimated at 7.6 billion dollars, according to the newspaper. .

Amazon is concerned about the uncertainty and slowdown in the coming period, and said it expects its operating income for the second quarter of 2022 to decline by about one billion dollars, or record profits of 3 billion dollars.

"The pandemic and war in Ukraine have brought extraordinary challenges," CEO Andy Gacy said in a company statement.

The newspaper report indicated that Amazon, after recording explosive growth in response to the needs of consumers during the pandemic, recently witnessed momentum in the quest to deal with inflation, labor shortages and supply chain disruptions.

Amazon reported a 3 percent year-over-year decline in the online commerce segment, which includes product sales and digital media products.

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