Amazon Reported a Second Consecutive Quarterly Loss

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Despite its declining online retail business, Amazon reported a second consecutive quarterly loss, but sales exceeded expectations.

Perhaps most surprising of all was the news that Amazon’s online sales dropped for the first time since the company began disclosing this metric five years ago, and—for the first time since the beginning of the pandemic—in-store retail sales in the US in March grew while e-commerce slowed down.

According to an Amazon news it was reported that a $3.8B loss was calculated in the first quarter, a sharp decline from the more than $8B in profits the company made in the same period in 2021.