Tech

Amazon posts loss as online sales falter

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Posted: 29/04/22 - 00:01
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A drop in online sales and rising costs have helped to push Amazon to its first loss since 2015.

Online sales at the e-commerce giant slipped 3% in the first three months of the year, as the boom to its business from the pandemic starts to fade, the firm said Thursday.

Growth in other parts of its business, including cloud computing and advertising, remained strong.

But it is wrestling with the impact of rising costs and the Ukraine war.

Overall, Amazon reported a loss of $3.8bn, much of which was driven by a hit from its investment in electric carmaker Rivian.

It forecast sales growth of as little as 3% in the coming months - a marked slowdown from the double digit growth it has enjoyed in recent years, even before the pandemic.

I Call True: The pandemic boosted so many companies which it now seems are falling back to earth a bit. Peloton, Netflix et al. No real surprise as both the cost of living has sky rocketed combined with people being back at work.

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4 Comments
25 days
2 upvotes
I must admit I have slowed down my Amazon purchases recently
28 days
2 upvotes
Expect your Amazon subscription to be going up imminently
28 days
2 upvotes
It will be interesting to see what Amazon now do to turn this round
28 days
3 upvotes
Not really a surprise as all the retail competition was forced to close down for months at a time. Thankfully we are now *allowed* out and can choose where we make all of our purchases.