Amazon posts first quarterly loss in 7 years as online shopping slows....DOW Down

[1srelluc]

Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup.

The Seattle-based e-commerce giant’s stock almost 10% in after-hours trading.

Amazon reported a loss of $3.84 billion, or $7.56 a share, for the first three months of the year. A year ago, it reported a profit of $8.1 billion, or $15.79 a share, for the first quarter. Wall Street analysts expected a profit of $8.35 a share in the latest quarter, according to FactSet.

The ocean of red ink in Amazon’s report came from the company’s accounting for a $7.6 billion loss in value of its stock investment in Rivian Automotive.

Amazon posts first quarterly loss in 7 years as online shopping slows

Maybe that's why the DOW is down 740+ points as of this minute.

 

[toobfreak]

Those fuckers at Amazon sure boned me up the ass for much of 2021, so I ain't buying shit from them anymore.

 

[1srelluc]

Those fuckers at Amazon sure boned me up the ass for much of 2021, so I ain't buying shit from them anymore.

How so?

 

[toobfreak]

How so?

Put simply: One time I ordered something for $17.95 that when the delivery date came and went, they admitted they would be late in filling, then they cancelled my order and told me if I still wanted it, I would have to reorder it at over $70!

Then I bought something off them worth about $500-$800 that was to be delivered a certain date, then a few days before the delivery, was contacted by them to say they don't deliver the item at all.

Another item, a piece of furniture, was dumped and left in the middle of my driveway and left there as rain approached.

Finally a couple months later bought something else for many hundreds of dollars with the explicit promise it would be delivered into my house and when it arrived, the driver knew nothing about the "promise" and said that Amazon did that all the time and that as a delivery company, they are told nothing of Amazon's agreements with the customer!

Without going into detail, these events fucked up many months and caused severe issues in my life.

 

[1srelluc]

Put simply: One time I ordered something for $17.95 that when the delivery date came and went, they admitted they would be late in filling, then they cancelled my order and told me if I still wanted it, I would have to reorder it at over $70!

Then I bought something off them worth about $500-$800 that was to be delivered a certain date, then a few days before the delivery, was contacted by them to say they don't deliver the item at all.

Another item, a piece of furniture, was dumped and left in the middle of my driveway and left there as rain approached.

Finally a couple months later bought something else for many hundreds of dollars with the explicit promise it would be delivered into my house and when it arrived, the driver knew nothing about the "promise" and said that Amazon did that all the time and that as a delivery company, they are told nothing of Amazon's agreements with the customer!

Without going into detail, these events fucked up many months and caused severe issues in my life.

I believe that the first incident was something called a clue.

No issues but I quit them back when they cut that deal with the USPS.

 

[Harpy Eagle]

Amazon reported its first quarterly loss since 2015 on Thursday, its money-making juggernaut stalled by a slowdown in pandemic-induced online shopping and a huge write-down of its investment in an electric-vehicle startup.

The Seattle-based e-commerce giant’s stock almost 10% in after-hours trading.

Amazon reported a loss of $3.84 billion, or $7.56 a share, for the first three months of the year. A year ago, it reported a profit of $8.1 billion, or $15.79 a share, for the first quarter. Wall Street analysts expected a profit of $8.35 a share in the latest quarter, according to FactSet.

The ocean of red ink in Amazon’s report came from the company’s accounting for a $7.6 billion loss in value of its stock investment in Rivian Automotive.

Amazon posts first quarterly loss in 7 years as online shopping slows

Maybe that's why the DOW is down 740+ points as of this minute.

So it did not actually lose money due to any slow down in sales, as is implied.

 

[Harpy Eagle]

Those fuckers at Amazon sure boned me up the ass for much of 2021, so I ain't buying shit from them anymore.

Tell the truth, you enjoyed it

 

[1srelluc]

So it did not actually lose money due to any slow down in sales, as is implied.

I'll tell you straight-up.....I don't know, some say they did, some said it was "offset" by something that's even less clear.........Whatever it was it was received poorly.....The DOW was 940 points down at the close.

Whoo Hoo.....Bargain Monday!

 

[Harpy Eagle]

I'll tell you straight-up.....I don't know, some say they did, some said it was "offset" by something that's even less clear.........Whatever it was it was received poorly.....The DOW was 940 points down at the close.

Whoo Hoo.....Bargain Monday!

The OP said that they took a $7.6 billion loss in value of its stock investment in Rivian Automotive. Which is more than their overall loss, which seems to mean that their sales were in the black.

Yeah, good buying time but most of free cash is tied up in the building of a house right now, but a down markets means that my 401k contributions are buying more shares, which helps when I retire in a decade.

 

[1srelluc]

The OP said that they took a $7.6 billion loss in value of its stock investment in Rivian Automotive. Which is more than their overall loss, which seems to mean that their sales were in the black.

Yeah, good buying time but most of free cash is tied up in the building of a house right now, but a down markets means that my 401k contributions are buying more shares, which helps when I retire in a decade.

Yep!