Amazon posts net loss for second consecutive quarter as it handles slower demand

Amazon.co.uk reported slower sales and a net loss for the second straight quarter as strength in the tech giant’s cloud computing business was offset by continued weakness in core retail operations suffering the aftermath of a pandemic boom.

The tech giant’s revenue in the latest period rose 7.2% year-on-year to $121.2 billion. That was a hair slower than the 7.3% rise in the first quarter, which had marked Amazon’s slowest growth in about two decades.


Wj

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button