E-commerce giant Amazon reported its second-quarter results today, and despite inflation and a net loss of $2 billion, the results were surprisingly better than expected. All of the loss is chalked up to Amazon’s stake in Rivian. The second-quarter net loss is compared to the net income of $7.8 billion in Q2 2021.
Sales increased 7% to $121.2 billion in the second quarter, compared with $113.1 billion in the same period in 2021. This was better than Wall Street’s estimate of $119.3 billion. The company predicted revenue between $116 billion and $121 billion for the quarter.
Because of the slightly good news, Amazon shares increased 11% in late trading on Thursday.
It’s important to note that online store sales fell 4.3% to $50.89 bi …
