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The January-March period marked the first loss for Amazon since 2015, according to the results report that the company presented at the end of the first quarter of 2022.
The drop was $3,1200 million dollars at $7.25 dollars per stock for the first three months of the year.
The quarterly loss was attributed to a slowdown in online shopping, as people began to return to physical stores, and to an investment amortization in an electric vehicle company.
After announcing its quarterly results, the company founded by Jeff Bezos reported a drop of 9 % in its shares at the close of this Thursday.
Compared to the first quarter of 2022, Amazon’s losses are significant, since a year ago, the company reported profits of $8,60 million to $15.79 dollars per share, according to a report published by abc News.
Beyond the slowdown in online sales, Amazon’s earnings report highlights the impact that had a loss of $7,600 million dollars in the investment it made in Rivian Automotive, an emerging electric vehicle company.
According to the report, the red numbers in Amazon’s quarterly accounting were mainly due to this loss. When the online sales giant invested in Rivian, its shares were worth $180 dollars, but this Thursday they closed at $32.25 dollars per unit.
Amazon’s results come amid an adjustment in which the online sales giant is rethinking its physical presence, with the closure of its book stores.
Cool online trading and Amazon loses
Amazon’s core business is undergoing changes after the most complicated months of the pandemic and the return from buyers to physical stores.
In its report for the first quarter of the year, Amazon reported an operating loss of $1,280 million dollars in l to North America region and $1,280 millions in the rest of the world, where it has operations.
The e-commerce giant had a notorious growth in the months that followed the start of the pandemic in 2020, with a wave of online purchases given the impossibility of going out for lockdowns around the world.
According to e-commerce research firm, MarketPlace Pulse, the value of products Amazon sold in 2020, was only half the value reached in 2020.
Last March was the first month in the one that online sales showed a setback since the pandemic began, according to an analysis done by Mastercard Spending Pulse.
In the wallets of In the cloud service sales business, Amazon did have a green report with profits that grew 37% in the first quarter of the year.
Meanwhile, his advertising business
, in which companies pay for their products to appear in the first search places on Amazon, also grew in sales by 04%.
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