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Amazon First-Quarter Results Miss, Revenue Guidance Bombs
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The first-quarter results came late Thursday. For its second quarter ending in June, Amazon expects revenue in the range of $116 billion to $121 billion. The midrange of $118.5 billion is below analyst estimates of $125.3 billion. Amazon now expects an operating loss of $1 billion to $3 billion, compared with a $7.7 billion loss in the year-ago quarter.
Amazon stock plunged 14%, to 2,485.63, its largest percent decrease since Oct 26, 2011, when it fell 12.66%.
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How Rivian Investment Affected Amazon Results
As a result, Amazon reported an adjusted loss of $7.56 a share on revenue of $116.4 billion. Analysts were expecting Amazon to report earnings of $8.35 a share on revenue of $116.5 billion, according to FactSet, but that apparently didn't include the Rivian loss.
If the $7.6 billion loss from Amazon's investment in Rivian was not included, Amazon net income would have been about $4 billion, while analysts were expecting $4.47 billion.
Its operating income, which does not count Rivian, was $3.67 billion, while analysts were projecting $5.32 billion, according to FactSet. Revenue grew 7% from the year-ago period.
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https://www.investors.com/news/technolog...src=A00220
![[Bild: AMZNd053418736i.png]](https://finviz.com/publish/050222/AMZNd053418736i.png)
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The first-quarter results came late Thursday. For its second quarter ending in June, Amazon expects revenue in the range of $116 billion to $121 billion. The midrange of $118.5 billion is below analyst estimates of $125.3 billion. Amazon now expects an operating loss of $1 billion to $3 billion, compared with a $7.7 billion loss in the year-ago quarter.
Amazon stock plunged 14%, to 2,485.63, its largest percent decrease since Oct 26, 2011, when it fell 12.66%.
....
How Rivian Investment Affected Amazon Results
As a result, Amazon reported an adjusted loss of $7.56 a share on revenue of $116.4 billion. Analysts were expecting Amazon to report earnings of $8.35 a share on revenue of $116.5 billion, according to FactSet, but that apparently didn't include the Rivian loss.
If the $7.6 billion loss from Amazon's investment in Rivian was not included, Amazon net income would have been about $4 billion, while analysts were expecting $4.47 billion.
Its operating income, which does not count Rivian, was $3.67 billion, while analysts were projecting $5.32 billion, according to FactSet. Revenue grew 7% from the year-ago period.
...
https://www.investors.com/news/technolog...src=A00220
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