Apr 28, 2022
Amazon posts loss as online sales falter
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. It forecast sales growth of as little as 3% in the coming months. The firm's overall sales continued to rise, up 7% year-on-year to $116.4bn, powered by Amazon Web Services - the company's cloud-computing division and reliable profit driver. AWS revenues were up 37% year-on-year, while advertising revenue was also strong, rising 23%.But elsewhere growth showed marked slowdown - especially in its international business, where sales sank 6%.Expenses are also rising rapidly. The iPhone maker said sales rose 9% year-on-year, to $97.3bn, and profits climbed more than 10% to $25bn.
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