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mahatmakanejeeves

(56,897 posts)
Fri Apr 29, 2022, 07:57 AM Apr 2022

Amazon stock plunges after company issues disappointing revenue forecast

Yahoo Finance

Amazon stock plunges after company issues disappointing revenue forecast

Alexandra Semenova · Reporter
Thu, April 28, 2022, 3:27 PM

Shares of Amazon (AMZN) dropped after the company revealed a revenue forecast that missed analyst estimates as consumers curb online spending in the face of economic uncertainty and a return to in-person activities. The company also reported a loss on its investment in electric-vehicle maker Rivian Automotive.

Amazon was the last of Big Tech names to unveil quarterly earnings this reporting season. The tech behemoth’s cloud-computing platform Amazon Web Services (AWS) was a bright spot during a lackluster quarter, but revenue failed to offset weakness in the company's core retail business.

Amazon's stock lost nearly 10% in post-market trading as investors weighed the results.

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Amazon stock plunges after company issues disappointing revenue forecast (Original Post) mahatmakanejeeves Apr 2022 OP
People are shopping less online these days. FloridaBlues Apr 2022 #1
Disposable income is being eaten up by inflation. Midnight Writer Apr 2022 #2

Midnight Writer

(21,548 posts)
2. Disposable income is being eaten up by inflation.
Fri Apr 29, 2022, 12:22 PM
Apr 2022

Food, gas, energy, utilities. By the time I pay for the basics, there's not much money left for browsing Amazon.

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