Amazon’s shares rise on earnings beat, despite $2B loss

E-commerce giant Amazon reported its second-quarter results today, and despite inflation and a net loss of $2 billion, the results were surprisingly better than expected. Much of the loss is chalked up to Amazon’s stake in Rivian. The second quarter net loss is compared to the net income of $7.8 billion in Q2 2021.
Sales increased 7% to $121.2 billion in the second quarter, compared with $113.1 billion in the same period in 2021. This was better than Wall Street’s estimate of $119.3 billion. The company predicted revenue between $116 billion and $121 billion for the quarter.
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