#amzn #amazon #stock #markets #afterhours #earnings #revenue
Amazon.com (AMZN) reported today and it swung to a Q1 loss of -190.53% on earnings, being -$7.56 Reported vs $8.35 Estimated, making a loss of -$15.91.
With regards to revenue, it was also a negative surprise of -0.01% or -$6.273M.
The stock fell 10% in after-hours trading.
Some of the reasons expressed for this situation, where:
- The pandemic
- The war in Ukraine
Amazon's chief financial officer, Brian Olsavsky, said:
"The cost to ship an overseas container has more than doubled compared to pre-pandemic rates," and "The cost of fuel is approximately one and a half times higher than it was even a year ago."