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.
Source: Chain Store Age
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 