After-hours $2612.375 down $279.555 (-9.67%) after trading up $128.59 (+4.65%) in the regular session.
From Seattle's own, GeekWire:
In-depth coverage of Amazon from the tech giant’s hometown, including e-commerce, AWS, Amazon Prime, Alexa, Echo, logistics and more.
Amazon shares declined more than 10% in after-hours trading Thursday after the Seattle tech giant revealed its first quarter earnings report and provided a lower-than-anticipated sales forecast for the second quarter, due in part to rising costs and inflation.
Revenue for the first quarter came in at $116.4 billion, which met estimates and was up 7% year-over-year. That’s the slowest growth rate for revenue in more than two decades.
Amazon posted a net loss of $3.8 billion, or $7.56 per diluted share. The net loss includes a pre-tax valuation loss of $7.6 billion included the company’s non-operating expense from its investment in automaker Rivian.
Without the Rivian impact, Amazon would have posted a profit of $3.8 billion, which still translates into earnings below Wall Street’s expectations of $8.07 per share.
Operating income came in at $3.7 billion, down from $8.9 billion in the year-ago quarter.
Looking ahead, the company’s Q2 sales forecast of $116 billion to $121 billion came in below estimates. Operating income for the second quarter is expected to range between a $1 billion loss and a $3 billion profit, down from $7.7 billion in the second quarter of 2021....
....MUCH MORE
For what it's worth, the other mega-cap to report, AAPL, was down $6.51 (-3.98%), almost giving up Thursday's $7.07 gain.
Probably a rough day for the QQQ tomorrow.
