Money

Billions lost in revenue for global retail giant

Published

4 years ago

April 29, 2022

Amazon is reporting a 3.8 billion dollar loss for the quarter

The retail giant’s shares plunged around 9 per cent in extended trading on Thursday, after the company issued its revenue forecast.

CEO Andy Jassy says the pandemic and war in Ukraine have brought a series of challenges for the company.

But he says there is hope, and Amazon is “squarely focused” on offsetting costs in its network.

It comes as its staff and warehousing capacities bounce back to pre-pandemic levels.

Related Topics:Amazon Business Featured trending

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Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.