Amazon shares plummeted more than 9% in extended trading on Thursday after the company issued a revenue forecast that trailed analysts’ estimates.
Here’s how the company did:
- Loss: Loss per share of $7.56
- Revenue: $116.44 billion vs. $116.3 billion expected, according to Refinitiv
It is not immediately clear if the reported earnings per share are comparable to analyst estimates. Analysts were expecting earnings of $8.36 per share, according to Refinitiv.
Amazon recorded a $7.6 billion loss on its Rivian investment after shares in the electric vehicle company lost more than half their value in the quarter. That resulted in a total net loss of $3.8 billion.
Amazon said it expects second-quarter revenue of $116 billion to $121 billion. Analysts were projecting sales of $125.5 billion, according to Refinitiv.
Here’s how other key Amazon segments did during the quarter:
- Amazon Web Services: $ 18.44 billion vs. $18.27 billion expected, according to StreetAccount
- Advertising: $7.88 billion vs. $8.17 billion expected, according to StreetAccount
This story is developing. Check back for updates.
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