Amazon reports sluggish growth in this Q1; share dips 14%.
For the first time since 2015, Amazon has experienced a quarterly loss.
Amazon lost $3.84 billion in the first 3 months of the year or $7.56 per share.
Though in the first quarter, net sales climbed by 7% to $116.4 billion, up from $108.5 billion in 2021.
After the E-commerce giant's results disappointed investors, Jeff Bezos' lost $13 billion.
Non-operating expenses from the company's stake in Rivian Automotive are included in net losses.
In addition, Amazon's e-commerce sector lost $1.57 billion in North America and $1.28 billion overseas.
Operating cash flow declined by 41% to $39.3 billion for the preceding twelve months.
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But Amazon Web Services (AWS) revenue beats estimates, reaching $18.4 billion.
According to analysts, Amazon is struggling with pressure from inflation and supply-chain, labour cost and shipping cost issues amid the Omicron variant.