News and charts:
https://twitter.com/peregreine/status/1519940641949724672
1) $AMZN reported Q1 March 2022 earnings of $4.24 per share on revenue of $116.4 billion. The consensus estimate was $8.73 per share on revenue of $116.3 billion.
“Amazon Posts First Quarterly Loss Since 2015 as Costs, Rivian Stake Weigh on Results:”
From the WSJ link contained in my tweet:
https://www.wsj.com/articles/amazon-amzn-q1-earnings-report-…
Amazon.com Inc. AMZN 4.65%? posted its first quarterly loss in seven years, a result that reflected broad economic trends related to a slump in online shopping, higher costs from inflation and supply-chain woes and market jitters over electric vehicle startups.
Revenue for the tech giant rose by about 7% for the January-to-March period, the slowest pace in about two decades as consumers returned to prepandemic habits and spent more money in person at stores. It lost $3.8 billion in the quarter, compared with a profit of $8.1 billion a year ago, when a surge in online orders due to the pandemic lifted Amazon’s prospects.
The performance for Amazon’s sprawling collection of businesses reflects several currents now roiling the tech industry. The amount of products Amazon sold during the quarter was essentially flat from a year ago, and the company reported a 3% year-over-year drop in its online stores segment, which include product sales primarily on its flagship site and digital media content. That’s the largest drop since the metric was first disclosed in 2016.
Bearish breakdowns on the daily, weekly, and monthly charts. Ugly. $AMZN down -14.05% today.
https://twitter.com/peregreine/status/1520142618100912129
$AMZN end of day look for Friday, 29 APR 22: