Amazon reported better-than-expected second-quarter revenue and raised Wall Street hopes with an optimistic outlook.
The company reported a loss of $2 billion, or $0.20 per share, for the quarter ended June 30, compared with net income of $7.8 billion, or $0.76 per diluted share, in the year-ago period. The net loss includes a pre-tax valuation loss of $3.9 billion included in non-operating expenses from its common stock investment in Rivian Automotive.
Net revenueincreased 7% to $121.2 billion, compared with $113.1 billion in the second quarter of 2021. Analysts had expected revenue of $119.09 billion.Chain Store Age