Amazon earnings were a mixed bag, expects robust Q3 following Prime Day

Admin, Thursday, August 11, 2022
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What you need to know

  • Amazon has released its financial earnings report for the second quarter of 2022.
  • The company beat total revenue expectations by $121.23 billion.
  • The $2 billion net income loss was attributed to Amazon Rivian Investment.
  • AWS continues to grow, albeit at a progressively slower pace.

Amazon released its financial earnings report for the second quarter on Thursday. Unlike many other big tech companies, the company beat analysts’ revenue expectations, generating $121.23 billion.

Despite revenue growth of 7%, the company reported a net income loss of about $2 billion, which it attributes in part to a $3.9 billion valuation loss in its investment in Rivian.

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