Amazon Stock Dives After , Reporting Nearly $4 Billion Loss.<br />CNN reports that on April 28, Amazon reported a net loss <br />of $3.8 billion in the second quarter of 2022.<br />During the same period last year, the company reported an $8.1 billion profit.<br />Analysts surveyed by Refinitiv had predicted a $4.4 billion profit this year, which was apparently way off. .<br />CNN reports that Amazon attributes most of the decrease in revenue to a $7.6 billion loss it sustained from investing in Rivian.<br />CNN reports that Amazon attributes most of the decrease in revenue to a $7.6 billion loss it sustained from investing in Rivian.<br />CNN reports Amazon shares plunged about 10% in after-hours trading following news of the loss.<br />They started to slightly recover <br />shortly afterward.<br />Andy Jassy, Amazon's CEO, issued a statement.<br />The pandemic and subsequent war in Ukraine have brought unusual growth and challenges, Andy Jassy, Amazon CEO, via statement, as reported by CNN.<br />Andrew Lipsman, Insider Intelligence <br />principal analyst, said "Amazon will <br />need to find a way to recharge growth <br />in its commerce business in <br />the coming quarters.".<br />Don't be surprised if Amazon hosts a second Prime Day this year in October to generate incremental revenues, Andrew Lipsman, Insider Intelligence principal analyst, via statement, as reported by 'Barron's'
